- Saga token price witnessed a slight decline in its trading volume over the last 24 hours.
- The Saga token’s sentiment was bearish, as per the analysts.
The spot trading volume of the Saga crypto witnessed a decline of 14% over the past 24 hours. It further resulted in a traded value of $37.207M. At the same time, the token’s liquidity was very high, with a volume/market ratio of 40.38%.
Following huge liquidity, the token’s volatility was also high at 13.86%. Additionally, the token’s market cap dominance was certainly low. It resulted in 0.01%, and the token’s market cap value was $94.152M.
The market cap ranking of the Saga token was #325, and the circulating supply was 99.033M SAGA. It further resulted in a total supply of 1.024B SAGA, and the token’s fully diluted market cap was $975.20M.
The Saga token’s security score was average, as per Certik Skynet, and its global ranking was #86.
The market fundamentals of the token further were the strongest of the multiple factors of the token. Additionally, the token’s GitHub account age was two years, earning only 19 stars.
Saga Token Derivatives Data Analysis
The derivatives trading volume of Saga crypto had witnessed a decline of 3.1%. A traded value of $109.39M followed this.
Following the crypto’s trading volume decline, the open interest in the token witnessed a 6% decline over the last 24 hours. This resulted in a value of $13.27M. It showed a decline in the number of token derivatives open positions.
The long/short ratio of the token was 0.8653, and its recorded long liquidation was $245.27K. Despite this, the recorded short liquidation was very low at $60.50K. It showed the dominance of sellers over the last 24 hours in the crypto.
SAGA Token Technical Analysis
On the 10th of April 2024, a swing high of $6.73 was formed. Since then, the token’s price has witnessed a consistent decline. That price behavior led to the formation of a lower low swing and descending triangle pattern on the chart.
When writing, the token price was traded in the support zone and the lower band of the pattern. Suppose the SAGA token price bounces back and breaks above the triangle pattern with strong momentum; its price trend might shift.
SAGA Token Technical Indicator Overview
The SAGA token price traded below the major EMAs, and the 20-day and the 50-day EMAs traded in a death crossover. It exhibited a declining token price behavior, which showed a downtrend in price.
SAGA/USD Chart by TradingView
When writing, the MACD and the signal line were trading in negative territory, followed by a death cross. The histograms formed on the chart were also bearish.
The RSI also declined to lower levels and traded at 35.8. It also declined below the 14-day SMA, which showed a decline in the momentum of the price.
If the SAGA token price continues to decline to lower levels, it might take support at the levels of $0.50 and $0.90. The resistance levels the price may face would be $1.80 and $3.00.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
