GALA Rallies to 1-Month High, CEL Corrects After 300% Surge
- DDDOriginal
- 2024-09-25 09:15:14255browse
Gala (GALA), the native token of the gaming blockchain Gala Games, rose slightly as the crypto held onto gains after a positive flip for the top coins.
The price of Gala (GALA) token rose on Tuesday, September 24, as the gaming blockchain token posted more gains following a recent surge. However, Celsius (CEL) token pared some of the gains clocked this past week.
Here is a closer look at the two tokens and their price performance.
Gala (GALA) Surges to 1-Month High
GALA price reached an intraday high of $0.0219 on Tuesday, up nearly 6% in the past 24 hours. With this surge, GALA was now trading at highs last seen on August 24 when it hit resistance around the $0.022 price level.
Notably, this area also acted as a robust support zone in July, with the GALA/USD pair later testing the area around $0.027.
While the cryptocurrency has shed some of the gains seen this past week, it is still nearly 19% up in this timeframe.
What Next for GALA Price?
On what happens next for Gala, growing bullish sentiment around crypto gaming tokens will likely boost buyers’ attempts to break to highs last seen in June.
If that happens and bulls reclaim $0.047, it’s possible year-to-date highs of $0.081 will be in their sights.
This positive outlook may also materialize for Gala Music (MUSIC), one of the Gala ecosystem coins that has rallied more than 14% in the past 24 hours.
MUSIC was up nearly 26% in the past week as it traded around $0.0402.
Upside momentum for Gala comes amid rising anticipation of a major announcement related to the ecosystem.
On September 21, the project’s developer team posted on X that this groundbreaking announcement would be coming this week.
Celsius Token Pares Gains after 300% Surge
One of the outperforming altcoins this past week has been Celsius (CEL), the native token of lending platform Celsius Network.
However, according to CoinGecko data, CEL price was down more than 12% in the past 24 hours to change hands around $0.48.
The declines on Tuesday followed a staggering run for CEL, which had rocketed more than 300% in the past week.
CEL price touched a high of $0.65 – the highest price level for the altcoin since July 12, 2024.
In between, the price reached lows of $0.13 on September 20. The recovery has been sharp in the past two weeks, several days after Celsius’ bankruptcy settlement that included a $2.5 billion repayment plan for thousands of creditors.
Although the price remains above the lows seen in June, a rejection at current levels may boost bears. The token also remains more than 94% down on its all-time high of $8.05 reached in June 2021.
Declines followed Celsius’ bankruptcy filing in July 2022 and the arrest of former CEO Alex Mashinsky.
The above is the detailed content of GALA Rallies to 1-Month High, CEL Corrects After 300% Surge. For more information, please follow other related articles on the PHP Chinese website!