"Attention to all early $SAGA investors! Here's what I've observed:
In the past 12 hours, SAGA's trading activity has been anything but ordinary. Traditional technical analysis seems inadequate as we're witnessing a surge in panic selling and weak-handed investors, leading to an oversold condition.
Many who initially jumped in at $6 to $7.8 are now selling below $6, resulting in losses. This imbalance between sellers and buyers is fueling a cautious approach, with buyers waiting for lower prices.
While the #Saga team's support post-mainnet launch and listing has been lacking, there are glimmers of hope. The chart hints at stabilization, although reclaiming $7 won't be easy with buyers eager to pocket any gains.
To see significant growth, SAGA must attract new projects and investors for their staking programs.
Despite the challenges, I'm optimistic about SAGA's future. While it may take time, my target remains $8 - $9, with a stable range of $10 - $12 based on their whitepaper and use cases.