Bulls are ruling SPONGEUSDT market
SPONGEUSDT Price Analysis – 15 August
The bulls can drive SPONGEUSDT higher by breaking the $0.000136 resistance level, which may also reach the $0.000196 and $0.000330 levels. If the bears manage to hold the $0.000136 level, the price could reverse and come up against the $0.000093, $0.000004, and $0.000006 support levels
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000093, $0.000004, $0.000006
SPONGEUSDT Long-term Trend: Bullish
Sponge is bullish on the daily chart. On June 22, the coin found support at $0.000093. Morning star, a bullish chart pattern, emerged, which sparked the bullish momentum and caused the price to rise to challenge the resistance level of $0.000196. The prior low support level is now being touched by the price as it retreats.
Following the pullback, the bulls can drive Sponge higher by breaking the $0.000136 resistance level, which may also reach the $0.000196 and $0.000330 levels. If the bears manage to hold the $0.000136 level, the price could reverse and come up against the $0.000093, $0.000004, and $0.000006 support levels. The 9-period exponential moving average is attempting to cross the 21-period EMA upside to create a bullish momentum as the two dynamic levels are in close proximity to one another.
SPONGEUSDT Medium-term Trend: Bullish
Sponge is bullish on the 4-hour chart. Sponge is pushed lower by the bears to the $0.000093 support level. The price decline was resisted by the bulls, who drove it up toward the resistance level of $0.000136, which was tested on August 8. The price is inclining as $0.000136 is the target.
SPONGEUSDT is trading above the two EMAs which indicates a gradual increase in the bulls’ momentum and the 9 periods EMA is trying to cross the 21 EMAs upside to establish a bullish momentum. The relative strength index period 14 is bending up at 53 levels to indicate a buy signal.
priorities, in the end…
Priorities after all… 🤷♂️💎🤣 pic.twitter.com/5HoNEgq7pt
— $SPONGE (@spongeoneth) August 15, 2023
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