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SAGA / TetherUS

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SAGAUSDT trade ideas

SAGA — Accumulation Breakout with Potential for MoreSAGA has been quietly accumulating since mid-June, with the volume during this period significantly higher than on its earlier drop. This signals strong accumulation and interest at the lower levels. Now, with a breakout above the key $2 level, the token has made a decisive move. This could just be the start of a larger run. The next resistance is at $2.80, and a break above that could quickly take us to the $4 range. However, SAGA has nearly doubled in price over the past few days. A pullback seems likely before any further rise. It’s unlikely the token will climb straight to $4 without some breathing room. In this case, dips are for buying. Waiting for a correction around $2 could provide a more favorable entry, as the token consolidates its recent gains before the next move higher. Final thought: The breakout is real, but timing your entry will be key.
Long
by ben_walther
Is SAGA About to Drop? Key Levels to Watch Now!Yello, Paradisers! Is #SAGAUSDT preparing for a potential downturn? Here's what we're eyeing right now. 💎#SAGA After a significant breakout from a critical resistance level, looks poised to revisit the demand zone at $2.21-$2.05. This retest would align with a bullish reversal, potentially pushing the price towards our target in the Bearish Order Block area. 💎However, if SAGA fails to bounce from the demand zone, we could see the price test the support level between $1.78-$1.88. This zone was previously a key resistance level, and a strong rebound from here is likely as the price has yet to retest this support following the recent breakout. 💎If SAGA doesn't rebound and the daily candle closes below $1.77, the bullish outlook will be invalidated, and the price may reverse back into a bearish trend, continuing its downward move. Only the patient traders who stick to sound strategies will thrive. Discipline is key. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
11
SAGA - Consolidation before price acceleration.# SAGA - Total3 - ETH/BTC --------------------------------------------------------------------------------------------- SAGA is a cryptocurrency with a market cap of $160 million and a fully diluted market cap of $1.6 billion. It functions as a Layer 1 blockchain specifically designed for gaming. I included this coin this week because I see the potential for at least a 30% gain in the coming days or weeks. This coin is related to my publication from last week as I consider SAGA a SUI with a higher Beta. This means that SAGA is a coin that moves in relative tandem to SUI (discussed in my last publication) whilst being more volatile and sensitive to market movements. **SAGA** - The price appears to be consolidating between a downward trendline (red) and an exponential trendline (green), forming a pattern of lower highs and higher lows. This suggests that the price is coiling up for a significant move. If the price successfully breaks past the $1.90 level, there appears to be no further resistance until it reaches the W-pattern harmonic expansion at the 1.414 or 1.618 Fibonacci level. This corresponds to the corrective 0.618 or 0.786 Fibonacci retracement of the last impulsive wave down (see picture 1). This setup indicates a potential 30-60% price gain after surpassing the red downward trendline. (The strategy for entering the SAGA trade can be found at the end of this publication.) **ETH/BTC** - The ETH/BTC pair is often considered a key indicator of the altcoin market's strength relative to Bitcoin. By analyzing ETH/BTC alongside TOTAL3 (the total crypto market cap excluding both BTC and ETH), we can look for confluence to determine if SAGA (and other altcoins) have the potential to move more rapidly in comparison to BTC. On a macro scale, the ETH/BTC ratio appears to be forming a large triangular consolidation pattern. The upward trendline, which is expected to provide support, is positioned just below the 0.786 Fibonacci retracement level of the entire previous wave (see picture 1). Zooming in (see picture 2), we can observe a hammer candle formed on high volume, which established the low of the current range (a bullish signal). At present, the price is holding at this range low and has filled the wick of the previously mentioned hammer candle. As long as the price does not break down from this range, it could quickly move towards the top of the range. This suggests a higher likelihood of bullish price action for ETH and other altcoins, especially since it is rare for this ratio to increase while the prices of BTC and other cryptocurrencies decline. **Total3** - TOTAL3 (the crypto market cap excluding BTC and ETH) is currently moving within a downward parallel channel, which can be a bullish indicator, much like BTC. The market cap bounced off the 0.886 Fibonacci level on August 5th, during a period of maximum fear, forming a hammer candle. Since then, it has also bounced from the 0.786 Fibonacci level, potentially creating a large W-pattern. To support the idea that the altcoin market cap (excluding ETH) is gearing up for a bullish impulsive move, we can reference the "Three Waves to a Bottom" theory. This theory suggests that a market or stock typically undergoes three distinct downward waves before reaching a bottom. After the third wave, the price tends to stabilize and may reverse into an upward trend. The movements in the Total3 market cap tend to suggest that more money will flow into the altcoins in the short to mid term. This should also benefit SAGA’s probabilities to have an acceleration in price. **Trade Set-up** In my opinion, I recommend 2 trade set-ups to enter in a SAGA long from the 14th of september onwards (Enter at White Arrow): You wait for a breakout. Conservatively price should find resistance around 1.9$ and could retrace back to retest the trendline that has been serving as resistance since mid-Juli. You wait for a breakout. If price does continue upwards, because crypto can move parabolically, even more when we consider the market cap of SAGA (=160M$) it is still probable that price will come down and retest the trendline that has been serving as resistance for 3months, the exponential trendline (green) that has been acting as support for even longer, or both as shown in the picture. This is a repost from yesterday, hopefully the issue for the public post was the link at the foot of my previous publishment. Have a nice weekend ! Zeddit
Long
by zeddit
Buy Trade Idea for SAGADescription SAGA (SAGA) is quickly gaining recognition in the cryptocurrency space due to its innovative approach to blockchain technology and strong fundamentals. Key aspects that support a buy trade for SAGA include: - **Decentralized Governance:** SAGA operates with a decentralized governance model, allowing stakeholders to participate in key decision-making processes. This ensures a transparent and community-driven development environment. - **Scalability and Security:** SAGA leverages cutting-edge technology to solve blockchain scalability issues while maintaining robust security protocols, making it a strong candidate for large-scale adoption. - **Expanding Ecosystem:** The SAGA platform is rapidly expanding its ecosystem, with a growing number of decentralized applications (dApps) being developed and a range of strategic partnerships that enhance its utility and long-term potential. - **Market Demand:** SAGA's focus on enabling seamless and scalable decentralized solutions positions it well to meet the increasing demand for efficient blockchain platforms. Given these fundamentals, SAGA presents a promising buy opportunity for investors looking to take advantage of its growing ecosystem and innovative blockchain infrastructure. Disclaimer Cryptocurrency trading involves significant risk and may result in substantial losses. The information provided here is for informational purposes only and does not constitute financial advice. Always conduct your own research, assess your risk tolerance, and consult with a financial professional before making any investment decisions. Past performance is not indicative of future results, and the value of cryptocurrencies can be highly volatile.
Long
by MoonTradingForecast
SAGAUSDT.4HThe chart provided for SAGA/USDT on a 4-hour timeframe presents a detailed look at the price movement of Saga against Tether. Let's dive into the analysis based on the information provided in the chart: Current Situation Price Level: SAGA is currently trading at $1.4115. Recent Price Action: The price has shown a mix of upward and downward movements, breaking through a descending trendline, which could signify a shift in momentum. Support and Resistance Levels Resistance Levels (R1 and R2): R1: $1.5704 R2: $1.8404 Support Levels (S1 and S2): S1: $1.1858 S2: $0.8590 Analysis and Conclusion From my perspective, the recent breach of the descending trendline is significant. It suggests that the sellers are losing control and the buyers might be gaining strength, especially as the price approaches the resistance level at $1.5704. Trading Strategy Bullish Scenario: If SAGA continues its upward momentum and successfully breaks through the resistance at $1.5704, the next target could be $1.8404. It’s crucial to watch for sustained trading volume to support this breakout. Bearish Scenario: Should SAGA fail to hold above the current support at $1.1858 and breaks below, it might test further lows towards $0.8590. This could indicate a resurgence of selling pressure or a lack of buyer confidence at higher price levels. Final Thoughts The market for SAGA shows potential for both continuation of the recent bullish breakout and retracement. As a trader or investor, closely monitoring the price action near these key levels will be essential. Implementing stop-losses just below support levels for long positions could help in managing potential downside risks. Always consider market sentiment and news that may affect SAGA’s price, and ensure that trading decisions align with overall investment strategies and risk tolerance.
by MarsSignals