Beware, SAGA is near a resistance rangeAfter a good climb, it has reached a resistance FL range.
Even if SAGA wants to break out of this area, it must have a correction ahead. Note that this correction may not be deep, so when we reach the first target, save some profit and then place a stop on the entry.
This area can contain many sell orders.
It has also swept up a large liquidity pool.
Closing a daily candle above the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
SAGAUSDT trade ideas
SAGAUSDT.4HFor this SAGA/USDT 4-hour chart, the outlook is quite bearish. The asset is currently trading just above the support level (S1) at $3.3039. If this level does not hold, it could indicate a further drop in price.
The resistance level (R1) is situated at $4.3655. For a change in the current bearish trend, the price would need to break above this resistance level with significant volume to confirm a potential trend reversal.
The RSI is in the oversold territory at 32.87, suggesting that the asset might be undervalued at this point. This could potentially lead to a bounce back if buyers step in, looking for a bargain. However, the RSI being oversold can also persist during strong downtrends.
The MACD is below the baseline and the signal line, reinforcing the bearish sentiment. Yet, traders should remain vigilant for any bullish crossover in the MACD as it may indicate a shift in momentum.
Overall, this chart suggests that caution is warranted. A break below S1 could lead to a further decline, while any bullish signals, such as a rising RSI or MACD crossover, should be closely monitored for signs of a potential reversal. As always, it’s crucial to consider a range of indicators and market news when making trading decisions.
SAGAUSDT.PHello Trader BINANCE:SAGAUSDT.P
The valid falling wedge area is now in the retest area position, market price or buy order limit area 4.0972
take profit 30%
stop loss 5%
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Disclamer: Not Financial Advice