SPONGE (SPONGEUSDT) Price Is Aiming at $0.000996 Level

Buyers’ pressure increase in Sponge market

Sponge Price Analysis – 09 February

The bulls may be able to hold their advantage in the market if Sponge breaks past the $0.000892 barrier level and runs into resistance in the $0.000996 to $0.001158 area. If $0.000697 is not maintained, the price can fall below the $0.000580 and $0.000500 support levels.

Sponge/USD Market

Key levels:

Resistance levels: $0.000892, $0.000996, $0.001158

Support levels: $0.000697, $0.000580, $0.000500

SPONGEUSDT Long-term Trend: Bullish

SPONGEUSDT is bullish on the daily chart. Bears were put on notice last month when a bullish reversal chart pattern emerged near the $0.000500 support level. As a result, the money swoops up north like an eagle. Price broke above $0.000500, $0.000580, and $0.000697 resistance levels before breaking through the $0.000892 barrier. In an effort to go back into the broken $0.000697 level, it retreats. It’s currently getting close to the previous high of $0.000996.

Following the recession, buyers are coming back to the SPONGE market. The price trading above the Hull Suite signal and the rising trajectory of the best Crypto indicator point to a positive trend. The bulls may be able to hold their advantage in the market if the price breaks past the $0.000892 barrier level and runs into resistance in the $0.000996 to $0.001158 area. If $0.000697 is not maintained, the price can fall below the $0.000580 and $0.000500 support levels.

 SPONGEUSDT medium-term Trend: Bullish

The four-hour SPONGEUSDT chart shows an upward trend. Despite mounting pressure on the bulls, the medium-term trend remains robust. The $0.001158 resistance level will be tested when resistance levels like $0.000892 and $0.000996 collapse. The price is returning to the previous high of $0.001158 while remaining at the previously indicated level.

It looks like the market is moving swiftly because the price is greater than the Hull Suite indicator. Because the coin is trading above the crypto signals, the market is favorable. A buy signal appears when the QQE MOD indicator is higher than zero.

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— $SPONGE (@spongeoneth) February 9, 2024

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