Summary
TLDR: Gala price fell but whales are accumulating, signaling a potential recovery. MVRV ratio suggests a good opportunity for accumulation. Price may increase to $0.065 but a rally depends on market cues. If price fails to break $0.050, there could be a drawdown. Always do your own research before making financial decisions.
Key Points
1. Gala (GALA) accumulation from whales could position the price for a more significant recovery.
2. Gala price fell victim to the broader market cues after the altcoin corrected by nearly 28% in the span of 48 hours. However, this did not discourage GALA holders; instead, it acted as a bullish trigger for a certain cohort – whales.
3. Gala whales appear to have preempted the potential recovery, as they are also signaling a similar accumulation on the Market Value to Realized Value (MVRV) ratio.