Aavegotchi’s GHST Token Pumps as Gala Finds ‘Perfect Support’ – A “Very Good” Buying Opportunity?
The price of GHST, the native token of the Aavegotchi NFT gaming platform, has seen a significant spike over the past day. According to data, GHST surged from around $1.67 to $2.30, marking an increase of approximately 38% before retracing slightly.
This rally comes as the Aavegotchi team announced that GHST is now bridging to new blockchain networks. In a series of tweets, the official Aavegotchi account revealed that GHST is going “multichain” and can now be bridged to the Base blockchain.
For larger transfers between Ethereum and Base, the team recommends using SuperBridge, stating they have already shifted $200,000 worth of GHST to Uniswap on Base to provide liquidity. Smaller transfers from Polygon to Base can be facilitated through fast bridges like Bungee and Jumper once they are live.
Prominent crypto analyst CryptoMac also weighed in, tweeting that Aavegotchi plans to deploy Gotchichain, a Layer 3 solution secured by Base, by June.
The Aavegotchi NFT platform allows users to purchase, raise, and battle digital pet avatars called Gotchis. GHST is the utility token used within the Aavegotchi ecosystem.
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GALA Price Has Found “Perfect Support”
Meanwhile, the cryptocurrency world is also buzzing about the price action of the GALA token, which is the native asset of the Gala Games blockchain gaming platform.
According to analyst Steph is Crypto, the GALA price has found “perfect support” at exactly the 0.618 Fibonacci level, which is considered the “golden pocket” in technical analysis. This is said to present a “very good opportunity” for potential buyers.
Similarly, analyst Cryptoninja.eth has taken a long position on GALA, stating that the previously overlooked crypto “appears set for growth.” Their analysis suggests GALA could potentially surge from around $0.03 to a long-term target of around $3 after breaking out and retesting support.
Gala Games is a blockchain gaming platform that aims to give developers an ecosystem to create blockchain games and players a place to discover and experience them.
As the blockchain gaming and NFT space continues to evolve, the price movements of tokens like GHST and GALA are being closely watched by investors and analysts alike.
A “Very Good” Buying Opportunity?
The optimistic outlook from analysts like Steph is Crypto and Cryptoninja.eth has sparked speculation that GHST and GALA could be compelling buying opportunities in the current market conditions.
For GHST, the token’s integration with new blockchain networks like Base expands its ecosystem and utility. Bridging to Base also provides added liquidity sources like Uniswap. The upcoming launch of Gotchichain on Base by June could also be a positive catalyst.
However, investors should note that GHST is still a niche token primarily used within the Aavegotchi NFT gaming platform. Its appeal may be limited to that particular community for now.
As for GALA, finding the “perfect support” at the golden pocket Fibonacci level is viewed as a highly bullish signal by technical analysts. A breakout from this level could potentially catalyze a strong uptrend, according to Cryptoninja’s analysis targeting $3.
That said, GALA is still a relatively small-cap cryptocurrency, and investors should exercise caution. The gaming token could experience volatile price swings.
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