MY SHORT TERM TAKE ON SAGA/USDT PRICING
- Bias: Bullish
- Current Price Action:
- Saga has established a strong support at $0.8675, which has provided a solid foundation for its recent price movement.
- After breaking through a significant resistance level at $1.8603, Saga has returned to consolidate around this price, indicating the potential for further upward momentum.
- Market Structure:
- The consolidation at the previous resistance, now acting as support, is a healthy sign that the market is preparing for another move higher.
- This behavior, along with the confirmed breakout, shows strength in Saga's price action, potentially attracting more buyers.
- Catalysts:
- The ongoing Saga airdrop campaign is expected to increase demand for the token, which could act as a bullish catalyst, driving prices higher.
- Price Target:
- Based on the current market structure and bullish outlook, I anticipate Saga’s price to trend upwards towards the $4.8957 level, representing a potential significant gain if momentum continues.
This setup presents a favorable risk-to-reward opportunity for those who align with the bullish bias, particularly if Saga maintains its support at $1.8603 and benefits from its airdrop campaign.
good luch guys and always remenber to RISK WHAT YOU CAN AFFORD TO LOSE
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.