Many early investors in $SAGA are seeing significant losses due to panic selling. Here's what I've observed:
Recent trading activity suggests traditional technical analysis may not be reliable anymore. Weak hands and panic sellers are dominating the market, causing SAGA to be oversold.
Those who bought in at $6 to $7.8 are now selling below $6, leading to losses. Buyers are cautious, waiting for lower prices, worsening the downward trend.
There's little support from the #Saga team post mainnet launch and token listing, dampening excitement for new investors.
On a positive note, the chart shows signs of stabilization, indicating the price may not drop much more. However, reclaiming $7 will be tough due to profit-taking.
For significant price growth, the team needs more projects and new investors engaging in their staking programs.
Despite challenges, I'm optimistic about their platform, aiming for $8 - $9 in the short term and a stable range of $10 - $12 based on their whitepaper and use cases.