Technical analysis based on SAGA chart:
1. Patterns and support/resistance levels:
The chart shows a consolidation zone in the range of 2.26 - 2.55 USDT.
The downward trend, which has been present since the beginning of May, showed several attempts to break through the resistance line, but without success.
The support level is in the area of 2.26 USDT, below which there is a risk of further decline.
2. Indicator:
Moving averages (MA 7, 25, 99) show a downward movement.
The Ichimoku cloud is above the price, indicating a bearish market.
The parabolic SAR also shows a downward trend.
On-chain analysis of#SAGAcryptocurrency:
1. Number of active addresses: 📉
Decrease in address activity in recent weeks.
2. New addresses: 🆕
The number of new addresses is gradually decreasing.
3. Transaction volume: 💸
Transaction volume remains low, indicating low interest in the token.
4. Netflow: 📉
The outflow of tokens from exchanges exceeds the inflow, which may indicate the desire of holders to sell their tokens.
5. Net flow of large holders (owning at least 0.1% of working capital): 🐋
Minor changes in the positions of large holders.
6. Exchange reserve: 💰
Reserves of tokens on exchanges remain stable, but the trend is to reduce reserves on exchanges.
7. Taker buy/sell ratio: 📊
The predominance of sales over purchases.
8. Liquidity level: 🌊
Liquidity remains at an average level, which does not prevent strong price movements.
9. Addresses MAKE a profit (in money), Addresses break even (in money), Addresses MAKE a loss of money (out of money):
Profitable addresses: 📈 15%
Break-even addresses: 📊 30%
Addresses with losses: 📉 55%
10. Inflow and outflow of “smart money”: 🧠
Smart money is gradually exiting the token, preferring more stable assets.
11. Network participation indicators: 🌐
Activity on the network is decreasing, indicating decreased interest in the project.
12. Number of Staking Nodes: 🔒
The number of staking nodes remains stable.
13. Token distribution: 🏦
The distribution remains unchanged, large holders do not change their positions.
14. Developer activity: 🛠️
Developer activity has noticeably decreased.
15. Social activity and acceptance: 📣
Social activity and mentions of the token on social networks have decreased significantly.
💡 Summary: In its current state, the SAGA token is under pressure from bearish sentiment, both on the chart and in on-chain indicators. A further rollback is possible if there are no changes in the fundamental indicators of the project or the appearance of positive news.