ORIGINAL POST LINK
Today i joined "Team Investors - Team" in Steemit Crypto Academy Trading Competition."Team Investors " Team is led by Professor @pelon53, Today I Trade GALA/USDT Pair. I got a lot of ideas about trading from the Crypt Academy course, the research I will do today to trade I learned from the Crypt Academy course.
Gala Games was launched in 2019 by Eric Schiermeyer, co-founder of Eric Schiermeyer Ginger. Eric Schiermeyer has a reputation for working in the field of gaming. Eric Schiermeyer launched Gala Games with the goal of creating a blockchain-based game network and giving players ownership of their games. Eric Schiermeyer's goal was to give players control over their games. Eric Schiermeyer came up with the dream of taking the gaming industry in a different direction.
At Gala Games, players can get and own non-fungible tokens (NFTs). In Gala Games, the Founders Nodes voting mechanism allows players to decide which games should be developed and funded. Gala Games has its own GALA utility token. Since the launch of the Gala Games project in 2019, there have been 1.3 million monthly active users and 26,000 NFT sales. The market value of 26,000 NFT is $3 million.
The Gala Node ecosystem consists of triple proof nodes: (1) Proof of Work (2) Proof of Stake (3) Proof of Storage. PoW is the Founder Node, Proof of Stake is the Paid Node, it works through a smart contract "rental" framework for certain games and Proof of Storage is the free node, it allows games to be hosted entirely in the Node ecosystem.
| GALA Price | $0.2747 |
|---|---|
| Price Change 24h | $0.006665 |
| 24h Low / 24h High | $0.2616 / $0.2772 |
| All Time High | $0.8367 |
| All Time Low | $0.000151 |
| Trading Volume 24h | $1,101,582,441.82 |
| Volume / Market Cap | 0.5748 |
| Market Dominance | 0.09% |
| Market Rank | #61 |
| Market Cap | $1,916,381,665.77 |
| Fully Diluted Market Cap | $9,679,162,538.76 |
| Total Supply | 35,240,112,493 |
Which Exchange can be traded on
GALA / USDT, GALA / USD, GALA / ETH, GALA / BTC, GALA / BNB can also be traded in many more pairs on popular exchange sites like Binance, Huobi Global, Coinbase, FTX, Bybit, and Gate.io .
Today I will be analyzing my favorite platform tradingview for trading entry in GALA / USDT pair, tradingview is one of my favorite analysis platform. Today I will enter the trade by analyzing through 3 indicators. RSI Indicator, Median Indicator and Exponential Moving Average. The RSI indicator helps us to understand the current market situation and through the Median indicator we get the signal to enter the trade.
The RSI indicator has two lines 30 and 70. If the line goes below 30, then we call it an oversold zone, here it is understood that the market has actually sold out. And if the line goes above 70, we call it the overbought zone, so the price may go down. And in the screenshot I shared above, we can see that the line in the RSI indicator has gone below 30. So we got a signal from this indicator that the market could go up from here because the oversold has taken place.
We can take trade entry through median indicators. The middle part of the median indicator has purple and green colors. If the color changes from purple to green, it indicates uptrend and if it changes from green to purple, it indicates downtrend. And I can see in my chart that the color has changed from purple to green and I've got the uptrend signal through the median indicator.
I then installed 9 Periods Exponential Moving Average (colored in green) and 25 Period Exponential Moving Average (red in color) in my chart to take the train as the latest and final signal. 9 Period Exponential Moving Average Crossing 25 period Exponential Moving Average upwards, we get Buy Signal. And that's what I've seen in the market.
So here I have decided to place a buy order, and through these three indicators I have received a buy signal.
Today I bought GALA, before buying I had plans about GALA, GALA I will buy for short time. So I found a bullish movement in the short time, for the short time I saw the right bullish movement and I bought GALA and left the market with a small profit. I plan to make a small profit by trading on the intraday trading system.
I bought GALA for short time, I don't want to hold it for long time or I didn't buy it for long time hold. GALA will hold longtime I have not done any such technical analysis, fundamental analysis. So I found and set up a tech profit for a small profit. And I have given stop loss so that there is not too much loss.
BUY
The Price of GALA was $0.2723 when I placed the buy order, my order is filled.
SELL
Before I bought, i set take profit and stop loss, I set the take profit at $0.2750 and set the stop loss at $0.2690.
PROFIT/LOSS
My Take profit is hit.
| Buying Price: | $0.2723 |
|---|---|
| Sell Price: | $0.2750 (Take profit hit) |
| Profit: | $0.116 |
I Profit $0.116 this trading.
If anyone wants, they can hold this GALA token for a long time, as its price is likely to increase in the future. Because a very strong team is working behind it and its popularity is increasing day by day. The people who are leading this GALA ecosystem are very experienced and have a lot of reputation at work. In that case, hopefully it can do better in the future.
However, I would like to warn you that the cryptocurrency market is very volatile so it is difficult to predict the cryptocurrency market. If anyone thinks that, hold on for a long time. Then GALA should be analyzed before buying.
The Gala Token runs on the Ethereum and Binance smart chain blockchain network and is secured through its own Founder’s Nodes. The GALA ecosystem rewards node operators according to the point system.
If we want to know more about this GALA ecosystem, we must go to its official website. Then we will know a lot more about this. The official website link is https://app.gala.games/