Is It Too Late To Buy GALA As Gala Games Teams Up With Miracle Play To Advance eSports?

The bullish outlook in Bitcoin price is fast spreading to other crypto ecosystems like blockchain gaming and GALA, the token powering the popular Gala Games, is at the forefront.

In the last 30 days, GALA price has grown by almost 100% to trade at $0.06715 during US business hours on Thursday. However, a 30% correction in the trading over the last 24 hours means that interest in the token among traders is waning.

GALA boasts slightly over $2 billion in market capitalization and ranks at #60 among its peers, according to CoinMarketCap data.

Gala Games Partners With Miracle Play For eSports

Gala Chain announced a strategic partnership with Miracle Play as part of a long-term goal to advance web3 connectivity as well as the mass adoption of blockchain especially in the realm of esports.

“The GalaChain ecosystem is proud to announce a new strategic partnership with Miracle Play, the web3 esports tournament platform working to revolutionize the cross-chain world of competitive web3 gaming,” Gala Games announced in a blog post.

The idea behind the collaboration is for Miracle Play to integrate Gala Chain, a purpose-built blockchain, into its multi-chain network. With this partnership, Gala hopes to empower “creators players, and developers in the web3 space and establish GalaChain’s presence as a key player in blockchain-backed esports.”

Miracle Play stands out by leveraging blockchain technology to achieve transparency and fairness, bringing up a “novel “Skill to Earn” (S2E) revenue mechanism.”

Gamers in this ecosystem can host and take part in tournaments using blockchain protocols of their choice, the Gala Chain included. Miracle Play stands out from other traditional gaming ecosystems, making web3 and the world of esports very competitive.

“By showcasing the unique characteristics and technological advancements of each blockchain, Miracle Play aspires to create a mega-tournament that not only entertains but also educates and bridges various gaming communities,” the blog post said in part.

GALA Price Prediction As Cup And Handle Pattern Comes To Play

GALA price is on the verge of breaking out following a minor consolidation within a bullish pattern. The cup and handle is a bullish formation that often leads to a major breakout.

With GALA price holding above all the key bull market averages including the 20-day EMA, the 50-day EMA, and the 200-day EMA, the path of least resistance remains upwards.

Similarly, a potential buy signal from the Moving Average Convergence Divergence (MACD) indicator suggests that traders would be willing to back GALA’s uptrend to highs above $0.1 in the short term.