$SAGA investors are facing significant losses:

Over the past 15 hours, I've been closely monitoring SAGA's trading activity, and it appears that traditional technical analysis may no longer apply. There's a notable presence of weak hands and panic sellers, leading to an oversold condition for SAGA.

The number of impatient sellers outweighs the buyers, with many who initially bought in at $6 to $7.8 during the listing now selling below $6, incurring losses. Consequently, buyers are adopting a cautious approach, waiting to place buy orders at lower prices, contributing to the downward trend.

Moreover, there seems to be a lack of support from the #Saga team post their mainnet launch and token listing, resulting in limited excitement to attract new investors.