Sapien crypto rallies 80% post listings – Will THESE levels cap its rally?
Locked supply drives Sapien crypto higher, but can buyers hold momentum?
Key Takeaways
Sapien crypto gained 80% post-listings. Charts flagged bullish momentum, though RSI hinted at a pullback. The Liquidation Map showed liquidity risk near $0.25.
Sapien [SAPIEN] was listed on major crypto exchanges Binance and Bitget on the 20th of August. Since then, the $71 million market cap token gained nearly 80%.
Coinbase, Kraken, and Kucoin listings also increased the token accessibility. Moreover, 75% of tokens remain locked post-TGE, reducing immediate supply.
The Sapien protocol’s work to ensure enterprises and AI developers can access trusted, human-in-the-loop data can bear fruit and drive SAPIEN crypto’s prices higher.
Sapien crypto: Short-term expectations
The 4-hour chart showed Sapien crypto breaking above $0.17 on the 5th of September, triggering a 70% rally to a new all-time high, measured at press time.
In fact, this move smashed past key resistance levels before setting a new all-time high for the token.
As observed, the OBV was also trending higher, showing respectable buying pressure. The Awesome Oscillator formed a red bar on its histogram, but indicated the momentum was overwhelmingly bullish.
Meanwhile, the Stochastic RSI formed a bearish crossover, hinting at a pullback or consolidation. Traders may look for a bullish Stochastic RSI crossover before entering long positions.
In addition to this, the $0.277 and $0.233 were the nearby support levels to watch.
To the north, the next price targets were at $0.355, $0.398, and $0.416, according to the Fibonacci extension levels.
A high trading volume breakout past the $0.316 level would be a strong sign of an imminent rally.
Liquidity map shows pullback risk
The Liquidation Map showed that the liquidity clusters below the price were far larger than the ones above.
It meant that it gives Sapien crypto prices an incentive to dip toward $0.25 to collect liquidity before climbing higher.
Even so, Sapien crypto’s outlook remained bullish. Major listings, locked supply, and broader altcoin tailwinds kept conditions favorable for further upside in the coming months.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
