Investor Optimistic About This Gaming Cryptocurrency, Believes One AI Blockchain Venture Poised to Succeed in Upcoming Bull Market
2 min read
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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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Disclaimer: Views expressed on The Daily Hodl do not serve as investment advice. Before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets, investors should conduct thorough research. You assume full responsibility for your transactions and trades, as well as any losses incurred. The Daily Hodl does not endorse buying or selling any cryptocurrencies or digital assets, nor act as an investment advisor. Be aware that The Daily Hodl is involved in affiliate marketing.
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