GALA rises as CEL pares gains after 300% surge

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. Elsewhere, Celsius (CEL) traded lower after rallying to a two-month high.

Gala token surges to 1-month high

The price of GALA reached an intraday high of $0.0219 on Sept. 24, according to data from CoinGecko.

With nearly 6% in the past 24 hours, the gaming token was hovering at highs last seen in August when it hit resistance near $0.022 on Aug. 24.

Notably, this area also acted as a robust support zone in July, with GALA/USD going on to test the area around $0.027.

While the cryptocurrency has shed some of the gains seen this past week, it remains nearly 19% up in this timeframe.

Source: TradingView

What next for GALA?

On what happens next for Gala, it’s likely a growing bullish sentiment around crypto gaming tokens will 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 Sept. 21, the project’s developer team posted on X that this groundbreaking announcement would be coming this week.

🎮 BIG ANNOUNCEMENT COMING SOON! 🎮 A massive announcement is dropping next week, and if you’re not in Benefactor’s Channel, you’re missing out on the action! 🔥 t.me/+vEV8lgpPtQkwN… 🎮 Join Benefactor’s Channel NOW! #GalaGamesX#BigAnnouncement#NextLevelAlpha#DeFiGaming

Gala’s price bounced after Gala Games announced integration with Google Pay and Apple Pay. However, with the price higher, profit-taking may see bulls struggle.

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.

Celsius CEL/USD price chart on TradingView

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 Sept. 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 post GALA rises as CEL pares gains after 300% surge appeared first on Invezz

Source