What’s Driving Galxe Price Towards A Breakout: Technical Analysis

Galxe is a Web3 credential data network that was launched on Bianance Launchpool in 2022. It allows Web3 developers and projects to access and use credential data from various sources, such as on-chain and off chain data. It also helps to build better products and communities.

It rewards data curators who contribute to the network and provides Application modules, Credential oracle Engine and credential API for developers to leverage the data. 

The native token “GAL” is both an ERC-20 token and BEP-20 token which run on Ethereum and BNB Smart chain blockchains respectively.

What's Driving Galxe Price Towards A Breakout: Technical Analysis
Source: CoinMarketCap

Galxe crypto price is on a 5-day gaining streak illustrating a strong outlook over the daily chart. The crypto price has been following an upward trajectory in the recent sessions and noted a 22% uptick in market cap in five sessions. 

The long term trend is positive and the price is hovering above the 50-day and 200-day EMAs. The bulls have firmly established their presence near the support of $1.55 and are committed to defend the level.

The recent price surge has pushed the bears on the backfoot as the price approaches the recent supply zone. The bears found themselves in a defensive position and may have to look for upper supply zones. 

At the time of writing, the Galxe price was trading at $1.91 with an intraday rise of 2.1%, showing positive signs on the chart. It has a 24 hour trading volume of $19.932 Million with an intraday decline of 23.20%.   

Galxe Price Prediction 2023

What's Driving Galxe Price Towards A Breakout: Technical Analysis
Source: GAL/USD by TradingView

The price prediction for 2023 is a neutral to bullish outlook in the short term. The most optimistic view of analysts estimates the price may reach a high of $2.18 by the year-end. The pessimistic view of analysts estimates that the price may drop to $1.542.

Galxe Price Prediction 2024

As per the analysts, GAL price may rise as high as $4.050 by 2023, indicating an upside potential of 111.90% from the CMP. However, the pessimistic view of analysts expects the price to reach $2.71.  

Galxe Price Prediction 2025

The most optimistic analyst forecast for the Galxe coin expects the price to reach a high of $6.83 with a potential gain of 257.66% from the CMP. The minimum forecasted price by the end of 2025 is $3.866. The average predicted price till 2025 is $5.281. 

Galxe Price Prediction 2026

The GAL token price may reach a high of $7.962 if a positive trend prevails in the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $5.901 by 2026. 

Galxe Price Prediction 2027

According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts estimates the GAL price to reach a high of $9.784. The minimum price target of analysts is $7.368 by 2027. 

Galxe Price Prediction 2028

Till 2028, the overall crypto market may see more exposure and evolve more. On the most optimistic side, the GAL crypto price may reach a high of $13.108. However, the pessimistic view of analysts expects the price to reach $10.259. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Source: https://www.thecoinrepublic.com/2023/12/22/whats-driving-galxe-price-towards-a-breakout-technical-analysis/