SAGA Token (SAGA) Market and Price Analysis April 2024

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.

The Saga (SAGA) token encountered a 14% decrease in its spot trading volume over the last 24 hours, resulting in a traded value of $37.207 million, as reported by the crypto market tracker Coincodex on the 11th of April 2024. At the same time, the token experienced high liquidity with a volume/market cap ratio of 40.38%.

Following the immense liquidity, the token’s volatility was also high at 13.86%. Additionally, the token’s market cap dominance was observed to be low at 0.01%, while the market cap value was recorded at $94.152 million.

The Saga token was ranked #325 in terms of market capitalization, with a circulating supply of 99.033 million SAGA tokens. This further indicated a total supply of 1.024 billion SAGA tokens. The fully diluted market cap was reported to be $975.20 million.

As per Certik Skynet, the Saga token’s security score was noted to be average with a global ranking of #86. Among the multiple factors, the token’s market fundamentals were observed to be the strongest.

The token's GitHub account was two years old and had earned only 19 stars.

The derivatives trading volume of Saga crypto had witnessed a decline of 3.1%, resulting in a traded value of $109.39 million, according to Coincodex on the 11th of April 2024.

Following the crypto’s trading volume decline, the open interest in the token witnessed a 6% decrease over the last 24 hours, reaching $13.27 million. This showed a decrease in the number of token derivatives open positions.

The long/short ratio of the token was observed to be 0.8653, with a recorded long liquidation of $245.27K and short liquidation of $60.50K. This indicated the dominance of sellers over the last 24 hours in the crypto.

A swing high of $6.73 was formed on the 10th of April 2024. Since then, the token’s price has seen a consistent decline. That price behavior led to the formation of a lower low swing and descending triangle pattern on the chart.

At press time, the token price was trading in the support zone and the lower band of the pattern. If the SAGA token price bounces back and breaks above the triangle pattern with strong momentum, its price trend might shift.

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

At press time, the MACD and the signal line were trading in the 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.

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

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