Gaming crypto GALA rallies nearly 350% in November — Correction ahead?

The incredible price rally appeared in line with a bull run across gaming and metaverse tokens.

Gala Games’ in-house currency GALA rallied by nearly 350% in November, ignoring corrections across the top cryptocurrencies, including Bitcoin (BTC). Notably, GALA price surged from $0.088 to $0.42 between Nov. 1 and Nov. 22.

The GALA bull run also coincided with a decrease in trading volumes, signifying that its price uptrend did not have strong underlying momentum.

As a result, GALA confirmed bearish divergences between its rising price and falling trading volume, doubling down the H&S setup as discussed above. On the other hand, the entire bearish outlook risked invalidation should the price confirm a potential Bull Pennant setup instead, as shown in the chart below.

The profit target for the bull pennant sits near $0.69, given GALA breaks out of its Triangle range to the upside with a rise in trading volume.

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