SPONGEUSDT Price: A Buy Signal Can Be Seen on Daily Time Frame

Bullish reversal envisaged in SPONGEUSDT market

SPONGEUSDT Price Analysis – 25 August

Bulls can drive the Sponge higher by breaking through the $0.000136 resistance level, possibly reaching the $0.000196 and $0.000330 levels. The price is now climbing as the $0.000136 target price approaches.

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. Last month, the coin found support at $0.000093. As the price rose and drew near the $0.000196 resistance line, the morning star bullish candle pattern first emerged. The old, subpar level of service was contacted when the price fell. Bulls are currently defending the level of $0.000093 while driving the price north.

After a decline, bulls can drive the price higher by breaking through the $0.000136 resistance level, possibly reaching the $0.000196 and $0.000330 levels. If the bears are successful in holding the $0.000136 level, the price may reverse and hit the $0.000093, $0.000004, and $0.000006 support levels. The 9-period exponential moving average is attempting to cross the 21-period EMA higher to create bullish momentum because the two dynamic levels are close to one another.

SPONGEUSDT Medium-term Trend: Bullish

Sponge is bullish on the 4-hour chart. The bulls’ resistance to the price decline caused the $0.000136 resistance level to be tested on August 8; as a result, the price is now climbing as the $0.000136 target price approaches. The bears forced sponge to the $0.000093 support level.

As SPONGEUSDT trades above the two EMAs and strives to cross the 21-period EMAs to the upside, strong momentum is beginning to emerge. Every day, the bulls’ motivation increases. A buy signal can be seen on a period 14 relative strength index that is bending upward at level 44.

No need to panic, $SPONGE #Hodlers will increase once more.

Nothing to worry about – $BTC #Hodlers will rise again👑💪📈 pic.twitter.com/KqafjeejhW

— $SPONGE (@spongeoneth) August 25, 2023

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