bullish

Saga

April

Reversal

Coin

The Saga cryptocurrency price bounced strongly after retracing the monthly lows. The optimism in the broader market helped the crypto gain an impressive 10% a day.&nbsp; 
The bulls stepped in today, due to which the blue-chip cryptocurrencies and altcoins headed for a recovery today.&nbsp; 
In recent sessions, the crypto markets have seen a sharp crash, dragging several cryptocurrencies near the lows. Saga had declined for the last three months, and the recent crash widened the losses.&nbsp; 
However, the analysts have noted some positive developments in on-chain metrics like weighted sentiment. This suggested a potential for improvement in the price.&nbsp; 
Let’s combine all the data and get a clear picture of Saga’s trajectory in the upcoming sessions.&nbsp; 
<h2 class="wp-block-heading" id="h-weighted-sentient-curve-indicates-improved-investors-sentiment">Weighted Sentient Curve Indicates Improved Investors’ Sentiment</h2> 
As per the Santiment data, the positive sentiments seemed to be improving. That’s why the weighted sentiment curve shifted from bearish to bullish territory.&nbsp; <iframe loading="lazy" title="Santiment Chart: Negative sentiment (Total) (SAGA), Positive sentiment (Total) (SAGA), Weighted sentiment (Total) (SAGA)" width="800" height="425" src="https://embed.santiment.net/chart?ps=saga&amp;pt=SAGA&amp;df=2024-07-07T18%3A30%3A01.908Z&amp;dt=2024-08-08T18%3A29%3A59.908Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_negative_total%3Bsentiment_positive_total%3Bsentiment_volume_consumed_total&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221h%22%7D%3B%7B%22interval%22%3A%221h%22%7D%3B%7B%22interval%22%3A%221h%22%7D" scrolling="no"></iframe> 
The weighted sentiment curve reflected the combined bias of the investors and traders, whether bullish or bearish. A shift in the weighted sentiment curve above the zero line suggests the increasing confidence of investors in crypto.&nbsp; 
Along with a launch on&nbsp; April 9, 2024, the SAGA Protocol introduced 1 billion SAGA tokens at the genesis.&nbsp; 
Saga’s mission is to support the creation of the next 1000 gaming and entertainment chains within the expanding Saga Multiverse. It offers end-to-end infrastructure for developers to build the next generation of blockchain applications. 
<h2 class="wp-block-heading" id="h-can-saga-price-make-a-bullish-reversal">Can Saga Price Make A Bullish Reversal</h2> 
<a href="https://www.thecoinrepublic.com/price-prediction/saga/">Saga price</a> was rising after retracing the monthly lows. It highlighted the formation of a double-bottom pattern. The formation of a double bottom pattern indicates the possibility of a bullish reversal above the pattern’s neckline.&nbsp;  
<a href="https://in.tradingview.com/chart/SAGAUSD/OXpCqeab-Can-Saga-Price-Head-For-A-Reversal-Amid-Improved-Sentiments/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a>&nbsp; <a href="https://in.tradingview.com/"> </a>  
While applying Fibonacci from the recent swing high at $1.82 and swing low at $0.86. The golden zone was observed near the $1.44 level. The golden zone of Fibonacci is considered a crucial level for reversal.&nbsp; 
On the higher side, if the bulls can surpass the golden zone, i.e., the $1.44 level, it could mark the end of a correction phase. It may also mark the initiation of a new bullish phase.&nbsp; 
As of now, SAGA lags nearly 40% from the reversal zone. The bulls need a strong counter to shift the trend in their favor.&nbsp; 
Also, the key EMAs of 20, 50, and 200 days were placed above the price, suggesting a prevailing bearish trend.&nbsp; 
When writing, the RSI line was observed taking a bounce and was placed near 40 points. The 14-day SMA line was observed at 41.8 points. The bounce in the RSI highlighted a recovery in the short term. 
The post <a href="https://www.thecoinrepublic.com/2024/08/09/can-saga-price-head-for-a-reversal-amid-improved-sentiments/">Can Saga Price Head For A Reversal Amid Improved Sentiments</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Can Saga Price Head For A Reversal Amid Improved Sentiments

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