Popular crypto traders are bullish on blockchain gaming platforms.
Pseudonymous analyst known as Altcoin Sherpa To tell 213,600 followers on social media platform X see support for GALA at $0.053 and $0.046, representing the $0.5 and 0.618 Fibonacci retracement levels.
Analysts believe that GALA may rebound after reaching the Fibonacci area.
“Gala: If you like money, buy this green box.”
GALA is close to that range, trading at $0.0567 at the time of writing. The crypto asset, which ranks 58th by market capitalization, has fallen more than 9% in the past 24 hours.
Altcoin Sherpa also shares analysis on Bittensor (TAO), a decentralized blockchain platform focused on machine learning and artificial intelligence (AI).
“I would like to see this time settle down and form a long-term bottom. As a leader in AI, I still think this is going to work out this cycle, but in the short term things are looking bad. Yes, you will. [dollar-cost average] This is between $400 and $500. ”
At the time of writing, TAO is trading at $522.02. The 41st-ranked cryptocurrency by market capitalization has fallen more than 7% in the past 24 hours.
Altcoin Sherpa too To tell The chart of Arbitrum (ARB), a layer 2 scaling solution for Ethereum (ETH), is potentially bearish.
“Some of these graphs look dirty. We would like to see some pullback here, otherwise ARB could end up at $1.20.”
At the time of writing, ARB is trading at $1.46. The crypto asset, which ranks 33rd in terms of market capitalization, has fallen nearly 7% in the past day.
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