๐จ Attention to all early $SAGA investors! ๐จ
I've been closely observing the trading dynamics of SAGA over the past 12 hours, and here's what I've noticed: Technical analysis might not be cutting it anymore. We're seeing a flood of panic sellers and weak hands, resulting in an oversold situation.
It's disheartening to see many early investors panic selling at a loss, especially those who bought in at higher prices during the listing. This influx of selling pressure is outweighing buying interest, contributing to the downward trend.
What's more, there's been a lack of visible support from the #Saga team post-mainnet launch and token listing, dampening excitement among potential investors.
But here's the silver lining: The chart seems to be stabilizing, indicating that further price dips may be limited. However, reaching back to $7 will be an uphill battle, with most buyers opting to take quick profits at the slightest price increase, causing volatility.
For SAGA to see a significant pump, it'll need to attract more projects and new investors to participate in their staking programs.
Despite the current challenges, I remain optimistic about SAGA's platform. While it may take some time, I believe we'll eventually see a surge in price. My nearest target is $8 - $9, with $10 - $12 being a reasonable stable price range based on their whitepaper and use cases.
Stay tuned for updates, and let's keep our eyes on the prize! ๐
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