Songbird (SGB) Price Prediction | CoinCodex (2024)

According to our current Songbird price prediction, the value of Songbird is predicted to rise by 3.99% and reach $ 0.009284 by March 5, 2023. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 53 (Neutral). Songbird recorded 12/30 (40%) green days with 4.75% price volatility over the last 30 days. Based on our Songbird forecast, it's now a bad time to buy Songbird.

Disclaimer: This is not investment advice. The information provided is for general information purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsem*nt, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Comparing Songbird against other important technological innovations and trends is one way of predicting where the Songbird price could head over the long term. The table above shows what the Songbird price would be by end of year 2024, 2025, and 2026 if its growth trajectory followed the growth of the internet, or large tech companies like Google and Facebook in their growth phase.

In the best case scenario, SGB price prediction for year 2026 is $ 0.603584 if it follows Facebook growth. In case Songbird would follow Internet growth the prediction for 2026 would be $ 0.069241.

Songbird's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strenght Index - RSI (14)

Songbird is currently trading below the 200-day simple moving average (SMA). The 200-day SMA has been signaling SELL for the last 321 days, since Apr 13, 2022.

The price of Songbird is currently below the 50-day SMA and this indicator has been signaling SELL for the last 26 days, since Feb 02, 2023.

The most recent Death Cross in the Bitcoin market happened 321 days ago, on Apr 13, 2022.

Based on our technical indicators, Songbird's 200-day SMA will drop in the next month and will hit $ 0.013802 by Mar 30, 2023. Songbird's short-term 50-Day SMA is estimated to hit $ 0.009611 by Mar 30, 2023.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 32.88, which indicates that the SGB market is in a neutral position.

Popular SGB Moving Averages and Oscillators for Tue, Feb 28, 2023

Moving averages are a popular indicator in all financial markets. The purpose of a moving average (MA) is to smooth price action over a certain amount of time. Moving averages are a lagging indicator which means they are based on previous price action. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Songbird Oscillators

An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.

Songbird Key Price Levels

Based on today's classical pivot point (P1) with the value of $ 0.009461, Songbird has support levels of $ 0.009247, $ 0.009122, and the strongest at $ 0.008908. Similarly, Songbird resistance levels are at $ 0.009585, $ 0.009800, and $ 0.009924..

Songbird Correlation

Over the past 7 days, Songbird price was most positively correlated with the price of Hedera Hashgraph (HBAR), Cosmos (ATOM), Aptos (APT), Uniswap (UNI) and Conflux Network (CFX) and most negatively correlated with the price of SSV Network (SSV), Bitget Token (BGB), GateToken (GT), Lido DAO Token (LDO) and NEM (XEM).

Songbird price is positively correlated with the top 10 coins by marketcap with a value of 0.593, excluding Tether (USDT) and positively correlated with the top 100 coins by marketcap excluding all stablecoins with a value of 0.537.

Currencies that are positively correlated with Songbird indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Songbird, a move in one direction for Songbird would translate into a move in the opposite direction for the negatively correlated coin.

To get a better idea of what could happen to the Songbird price in the future, it’s helpful to also explore Songbird’s price history. In the last month, the SGB/USD pair is down .

How to read and predict Songbird price movements?

Songbird traders use a variety of tools to try and determine the direction in which the SGB market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to predict the Songbird price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

Songbird Price Prediction Indicators

Moving averages are among the most popular Songbird price prediction tools. As the name suggests, a moving average provides the average closing price for SGB over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for SGB is a sum of SGB’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the SGB price moves above any of these averages, it is generally seen as a bullish sign for Songbird. Conversely, a drop below an important moving average is usually a sign of weakness in the SGB market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the SGB price.

How to read Songbird charts and predict price movements?

Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Songbird with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Songbird’s price action in 1-hour chunks. Each candlestick will display SGB’s opening price, closing price, as well as the highest and lowest prices that Songbird reached within the 1-hour period.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of Songbird?

Just like with any other asset, the price action of Songbird is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of SGB. The market capitalization of Songbird can change significantly in a short period of time.

When trying to make a Songbird forecast, many traders also try to monitor the activity of SGB “whales”, which are entities and individuals that control large amounts of SGB. Since the Songbird market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Songbird’s price movements.

Bullish and bearish price prediction patterns

Some traders try to identify candlestick patterns when making a cryptocurrency price prediction to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.