After a volatile week, crypto bulls returned over the weekend, pushing Bitcoin to a two-week high and lifting the total cryptocurrency market capitalization by roughly 8%. However, the standout performer was GALA (Gala), the gaming-focused token that surged 37% in a single day, becoming the top gainer among major altcoins.
GALA Breaks Key Resistance Levels
The GALA/USD pair rose from an intraday low of $0.1865 to a high of $0.2668 on Saturday, marking a nearly 37% increase. The rally came as GALA broke above its two-week resistance level of $0.2115, which had been intact since January 21. According to technical analysis, the breakout triggered two consecutive bullish moves in the 14-day Relative Strength Index (RSI), first surpassing the 35 level and then the 41 level, indicating strengthening buying momentum.
Despite the sharp move, GALA remains significantly below its all-time high of $0.8415 set on November 26. Nevertheless, some traders still hold hopes of a potential climb toward $1.0, especially given the recent wave of news in the gaming and blockchain space that has drawn attention to GALA.
Broader Market Recovery with a Few Losers
Unlike previous days, the weekend saw widespread positive performance. Only about five of the top 100 cryptocurrencies recorded slight declines. Among them, Quant (QNT) and Maker (MKR) were the biggest losers. QNT, after four consecutive days of gains, fell nearly 5% on Saturday, hitting an intraday low of $130.77. The decline occurred as the 14-day RSI stalled at the 54 resistance level, accompanied by selling pressure at the $140.00 price ceiling.
Despite these losses, short-term momentum remains bullish for most assets. The question is whether today's pullback in QNT and MKR is merely temporary.
Technical Outlook and Key Levels
For GALA, sustaining above the $0.2115 breakout level and clearing the $0.27 zone could open the door toward $0.30 and beyond. However, overbought RSI readings suggest a potential short-term pullback. Bitcoin's ability to maintain its upward trajectory will also influence altcoin sentiment.
Overall, the weekend rally injected renewed optimism into the market, with GALA stealing the show. Traders will closely watch whether Bitcoin can break through its recent highs and whether GALA can extend its gains in the coming days.