Saros, a cryptocurrency developed on the Solana platform, has witnessed strong and impressive growth over the past month. The value of this token has continuously recorded new all-time highs, reaching ATH almost every day throughout March.
However, as the growth momentum shows signs of slowing down, investors cannot help but worry that this bullish cycle may soon come to an end.
SAROS stops monitoring Bitcoin
The relationship between Saros (SAROS) and Bitcoin (BTC) is currently negative, at -0.43, which has created an advantage for Saros in the current market context. This negative correlation has allowed Saros to thrive throughout March, while Bitcoin has struggled. As Bitcoin experienced a significant decline, Saros was able to leverage this factor for growth, thanks to the inverse movement between the two coins.
However, the change in the dynamics between Bitcoin and Saros will be a determining factor for the price volatility of Saros in the future. If Bitcoin recovers and continues to grow, Saros may face strong selling pressure. This is a consequence of the negative correlation, as a reversal of Bitcoin could negatively affect Saros's ability to maintain its growth momentum.
The correlation of SAROS with Bitcoin | Source: TradingViewThe macro momentum of Saros continues to show strong interest from investors. The Chaikin Money Flow (CMF) has maintained a steady growth rate throughout the past month, demonstrating the continuous influx of capital.
Recently, this indicator has surpassed the saturation threshold of 0.7 – a level that in the past has often signaled price corrections. This suggests that although Saros has recorded strong growth, the market may be approaching a saturation point, creating the risk of overbuying. If investors start taking profits, this altcoin may face a significant correction in the near future.
CMF of SAROS | Source: TradingView
Will the price of SAROS continue to grow?
Saros has recorded an impressive increase of 1,024% since the beginning of March, currently trading at $0.153. Throughout the past month, this altcoin has continuously set new ATH levels, almost every day, demonstrating strength in investor sentiment and market demand.
Daily SAROS/USDT chart | Source: TradingViewThe current ATH level is $0.163, and if this growth momentum continues, the price could aim for the target of $0.200. However, with each increase, the risk of profit-taking also increases.
In the event that Saros faces a correction, the price may retreat to the support level of $0.100. If this support is lost, the price could drop to $0.055, threatening the bullish outlook. Investors need to closely monitor these price levels, as they will play a crucial role in assessing the sustainability of the current upward trend.
Disclaimer:This article is for informational purposes only and should not be considered investment advice. Investors should do thorough research before making any decisions. We are not responsible for your investment decisions.
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Altcoin Solana Saros increased by 1,000% over the past month, continuously setting new ATHs.
However, as the growth momentum shows signs of slowing down, investors cannot help but worry that this bullish cycle may soon come to an end.
SAROS stops monitoring Bitcoin
The relationship between Saros (SAROS) and Bitcoin (BTC) is currently negative, at -0.43, which has created an advantage for Saros in the current market context. This negative correlation has allowed Saros to thrive throughout March, while Bitcoin has struggled. As Bitcoin experienced a significant decline, Saros was able to leverage this factor for growth, thanks to the inverse movement between the two coins.
However, the change in the dynamics between Bitcoin and Saros will be a determining factor for the price volatility of Saros in the future. If Bitcoin recovers and continues to grow, Saros may face strong selling pressure. This is a consequence of the negative correlation, as a reversal of Bitcoin could negatively affect Saros's ability to maintain its growth momentum.
Recently, this indicator has surpassed the saturation threshold of 0.7 – a level that in the past has often signaled price corrections. This suggests that although Saros has recorded strong growth, the market may be approaching a saturation point, creating the risk of overbuying. If investors start taking profits, this altcoin may face a significant correction in the near future.
Will the price of SAROS continue to grow?
Saros has recorded an impressive increase of 1,024% since the beginning of March, currently trading at $0.153. Throughout the past month, this altcoin has continuously set new ATH levels, almost every day, demonstrating strength in investor sentiment and market demand.
In the event that Saros faces a correction, the price may retreat to the support level of $0.100. If this support is lost, the price could drop to $0.055, threatening the bullish outlook. Investors need to closely monitor these price levels, as they will play a crucial role in assessing the sustainability of the current upward trend.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should do thorough research before making any decisions. We are not responsible for your investment decisions.
SN_Nour
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