Is it Time to Short or Long? #SAGA
what are your thoughts?
Based on the daily chart of SAGA/USDT, the token has recently experienced a sharp decline from a peak of $0.4556, followed by a brief consolidation phase around the $0.315 range. The price is currently below the Bollinger Middle Band ($0.3320) and trending near the lower half of the band, indicating bearish pressure. The MACD histogram is in negative territory with the MACD line also crossing below the signal line, confirming momentum weakness. Furthermore, the Stochastic RSI is deeply oversold (around 18.55), which might suggest a short-term bounce, but not enough for a confident long unless confirmed by reversal signals.
Given this setup, a short position is technically more justified in the short term. The price has failed to recover back above the key support-turned-resistance zone near $0.343–$0.35, and trading volume is declining, suggesting weak bullish conviction. Until SAGA breaks and holds above $0.34 with strong volume and MACD starts flipping, downside risk remains. A short entry with a stop-loss above $0.34 and a target near $0.28 or lower aligns well with the current momentum and volatility setup.
