Will SAGA Crypto Continue Falling Or Thrust Upward Soon?

• 1 Volume inflow is down to $115 Million from the April 10th average of $1.8 Billion, leading to a decline in market cap to $351.08 Million.
• 2 The all-time high price was $7.60 on Apr 09, 2024, while the all-time low was $3.06 on Apr 19, 2024.

Saga is a Layer 1 protocol that enables developers to create VM-agnostic, parallelized, and interoperable dedicated chains called Chainlets. 

Each Chainlet replicates the Saga Mainnet and provides infinite horizontal scalability. The main aim of Saga is to enable the creation of the following 1000 chains in gaming and entertainment as part of the growing Saga Multiverse.

Saga mainnet is fully decentralized and uses Tendermint consensus for its security. By allowing developers to spin up dedicated blockspace on demand, Saga provides cost-effective, infinitely scalable, and interoperable infrastructure for developers to build the next generation of blockchain-based applications.

SAGA Crypto Statistics

The price of SAGA on the market is currently at $0.01262, experiencing a decline of -4.49% in the last 24 hours. The 24-hour trading volume is reported to be at $133.69 Million.

On Apr 09, 2024, Saga (SAGA) reached its peak price of $7.60, the highest price it has ever achieved. The current price is 51.21% lower than the all-time high price. On Apr 19, 2024, Saga (SAGA) reached its lowest price of $3.06, the lowest price it has ever reached. The current price is 21.25% higher than the all-time low price.

Saga (SAGA) is ranked #216 on CoinGecko, with a market capitalization of $338,884,088. Market capitalization is calculated by multiplying the coin’s price with the circulating supply of SAGA tokens, which is currently 91 million.

The fully diluted valuation (FDV) of Saga (SAGA) is $3,726,301,725. It represents the maximum market cap, assuming 1 billion ETH tokens are circulating today.

SAGA Crypto Price Prediction On Daily Chart

The SAGA crypto has been making a lower structure and facing resistance from the trendline. Therefore, if the SAGA crypto price fails to stay above the $3.050 level, it could decline further.

However, if the demand for the SAGA crypto remains high, the asset price could bounce back from the current level. Then, the next target for the price could be $4.90 and $6.70.

SAGA Crypto Volume Analysis

The volume inflow of SAGA crypto has been declining significantly and continuously over the past few weeks despite the price rise. The volume inflow is nearly $115 Million, a sharp drop from the average of $1.8 Billion on April 10th, 2024.

The market capitalization of SAGA crypto is $351.08 Million, and it ranks 189th in the overall crypto market. The overall metrics are declining in correlation with the price, and if bears continue to push down, this fall could further stretch.

SAGA Crypto Development Activity Analysis

Furthermore, the development activity reflects the activity level in the form of undergoing projects and developments in the SAGA crypto. The developer’s activity is declining, and no developers are working on SAGA.

   

Summary

SAGA’s current market price is $0.01262, down 4.49% in 24 hours, with a trading volume of $133.69 Million. The all-time high price was $7.60 on Apr 09, 2024, while the all-time low was $3.06 on Apr 19, 2024. The market cap is $338,884,088, with an FDV of $3,726,301,725. 

The crypto may fall without support at $3.050 but could rise towards $4.90 and $6.70 if demand remains high. However, volume inflow is down to $115 Million from the April 10th average of $1.8 Billion, leading to a decline in market cap to $351.08 Million and a drop in developer activity.

Technical Levels

Support Levels: $3.050

Resistance Levels: $4.90

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.