Gala Jumps 37% Higher as Crypto Bulls Return –

Over the weekend, as Bitcoin rose to a two-week high, it was Gala that stole the show after rising 37%. Bulls returned to action on Saturday as the global crypto market cap was about 8% higher.

Biggest winners

After a huge week of news in the gaming and crypto space, it was only a matter of time before traders turned their attention Festival (GALA).

Crypto bulls flocked to GALA to start the weekend, driving up the gaming-based blockchain's prices by nearly 40%

GALA/USD rose to an intraday high $0.2668 after hitting lows of $0.1865 during yesterday's session.

Today's move came just as GALA's price broke through its two-week resistance level of $0.2115, which has been held since January 21st.

As can be seen from the chart, this rally resulted in two consecutive breakouts of the recent upper limits in the 14-day RSI, first the 35 level, followed by 41.

Overall, GALA is well below its ATH of $0.8415 set on November 26th, yet some still hope it will eventually reach $1.

Biggest losers

Similar to yesterday, there were not many bears at the start of the weekend, with around five of the top 100 cryptocurrencies falling slightly.

However, the two biggest ones that remained red today were Quantity (QNT) and makers ( MKR ), with QNT stealing the biggest loser honor on Saturday.

After four consecutive rallies to start the week, QNT/USD was down nearly 5% at the time of writing, hitting an intraday low of $130.77.

The move came as the 14-day RSI started stalling at the 54 resistance level, with prices selling off at the $140.00 price ceiling.

Is short-term momentum still bullish, is today's decline just temporary? Let us know your thoughts in the comments.

Eliman Damell

Eliman brings a diversified perspective to market analysis, having worked as a brokerage director, retail educator and market commentator in crypto, stocks and forex.

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