Investor Optimistic About This Gaming Cryptocurrency, Believes One AI Blockchain Venture Poised to Succeed in Upcoming Bull Market
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An esteemed cryptocurrency trader has expressed optimism regarding a blockchain platform dedicated to gaming.
The trader known by the moniker Altcoin Sherpa has informed their following of 213,600 on a social network that Gala Games (GALA) may have established support levels at $0.053 and $0.046, correlating to the 0.5 and 0.618 Fibonacci retracement levels, respectively.
According to the analyst, GALA could rebound after reaching these key Fibonacci zones.
“GALA: Purchase in these green zones if earning is your game.”
At the moment, GALA is approaching this specified range, trading at $0.0567. Ranking at 58 in market capitalization among cryptocurrencies, it has seen a decrease of over 9% in the last 24 hours.
Altcoin Sherpa also conveyed insights about Bittensor (TAO), a machine learning and AI-centric decentralized blockchain network.
“This one needs time to stabilize and form a solid base for long-term growth. My conviction remains that it will excel in this cycle as an AI forerunner, although it’s experiencing turbulence currently. Opt for gradual investments between $400 and $500 for this asset.”
Currently, TAO is trading at $522.02 and is listed as the 41st crypto in terms of market capitalization. It has dipped over 7% in the last 24 hours.
The crypto commentator also commented that the price action for Arbitrum (ARB), the Ethereum (ETH) layer-2 solution, appears pessimistic to some extent.
“Several charts seem to be in rough shape. We need to see a recovery soon, or ARB might slip to the $1.20 mark.”
ARB’s current trading price is $1.46, and it is the 33rd-ranked crypto asset by market cap, having fallen nearly 7% in the past day.
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