🚀Sapien surged 80% on its first day of listing! Can the upward momentum continue in the future?
Hello everyone, today let's talk about the recently trending Sapien (#SAPIEN ) 🐱💻. Since its listing on Binance and Bitget on August 20, this token with a market cap of 71 million dollars has surged, with a maximum increase of nearly 80%! Meanwhile, the listings on exchanges like Coinbase, Kraken, and Kucoin have greatly improved the accessibility of SAPIEN.
📈The chart looks bullish, but watch out for pullback signals
From a technical perspective, Sapien's performance is very strong. The 4-hour chart shows that after breaking through $0.17 on September 5, it triggered nearly a 70% rebound and reached a new all-time high! OBV (On-Balance Volume) is also rising, indicating sufficient buying pressure and strong bullish confidence in the market.
However, it is important to note that the stochastic RSI has shown a bearish crossover 🔻, indicating that a pullback or consolidation may occur in the short term. Traders can watch for a bullish crossover in the stochastic RSI before considering entering a position.
💰Key support and resistance levels
Support levels to watch in the short term:
0.233 USD
0.277 USD
Upper price target (based on Fibonacci extension):
0.355 USD
0.398 USD
0.416 USD
If SAPIEN successfully breaks through 0.316 USD, it means a new round of rebound is about to start!
🔄Liquidity risk to be noted
The liquidation chart shows that liquidity below the price is denser than above. This suggests a potential short-term pullback, with the price dropping to 0.25 USD to collect liquidity before continuing to rise 📉➡️📈.
Nevertheless, the overall outlook remains optimistic:
Listing on mainstream exchanges has increased accessibility
Most tokens are still locked (75% TGE lock-up), reducing short-term supply pressure
The actual application value of the Sapien protocol (providing trusted human-machine interaction data for enterprises and AI developers) has increased the intrinsic value of the tokens
🔮Summary
The performance since Sapien's listing demonstrates market recognition of quality projects. Although there may be a pullback pressure around 0.25 USD in the short term, SAPIEN still has growth potential in the medium to long term. For investors focused on altcoins, listing on mainstream exchanges + strong buying pressure + locked supply provides favorable conditions for further increases in the coming months 💪.
