The post Can Saga Price Head For A Reversal Amid Improved Sentiments appeared on BitcoinEthereumNews.com.

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.  The bulls stepped in today, due to which the blue-chip cryptocurrencies and altcoins headed for a recovery today.  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.  However, the analysts have noted some positive developments in on-chain metrics like weighted sentiment. This suggested a potential for improvement in the price.  Let’s combine all the data and get a clear picture of Saga’s trajectory in the upcoming sessions.  Weighted Sentient Curve Indicates Improved Investors’ Sentiment 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.  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.  Along with a launch on  April 9, 2024, the SAGA Protocol introduced 1 billion SAGA tokens at the genesis.  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. Can Saga Price Make A Bullish Reversal Saga price 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.      While applying Fibonacci from the recent swing high at $1.82 and swing low at $0.86. The golden zone was observed…

---

Filed under: News - @ August 9, 2024 9:20 pm