Buyers’ pressure may increase soon
SPONGEUSDT Price Analysis – 04 April
In a trending market, a pullback is inevitable, but more price growth for sponge is often expected. If the bulls increase their pressure, the $0.000577 price barrier might be broken.
Key Levels:
Resistance levels: $0.000577, $0.000695, $0.000886
Support levels: $0.000500, $0.000455, $0.000400
SPONGEUSDT Long-term Trend: Bullish
Long-term, the price of SPONGEUSDT continues to move in a favorable direction. The Bulls were the dominant team in the sponge market. The bullish trend reached its climax on March 15 at $0.000577. The Bears broke the uptrend, causing the price to tumble to $0.000455. The coin fluctuated sideways between $0.000455 and $0.000500 for about eight days, indicating that the bulls’ and bears’ momentum is roughly equal. It is feasible for the $0.000577 supply barrier to be broken by a bullish candle that forms. On the daily chart, the sponge market closed yesterday with a bearish candle, suggesting that prices may pull back.
The coin is trading above the indicator, according to the Hull Suite Crypto signals‘ pricing technique, which suggests that the Sponge market is experiencing strong positive momentum. Conversely, the QEE MOD displays the buy signal when the histogram signal line is above the 0 level. In a trending market, a pullback is inevitable, but more price growth for sponges is often expected. If the bulls increase their pressure, the $0.000577 price barrier might be broken.
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SPONGEUSDT Short-term Trend: bullish
In the intermediate future, Sponge sees hope. Sponge was trading sideways at $0.000455 and $0.000500 for more over a week. On March 15, the Bulls smashed through the $0.000500 barrier, sending the currency soaring into the $0.000577 price level. The price started to level out over $0.000500 as the bulls’ enthusiasm faded.
The price of the sponge is above the Hull Suite signal, which indicates a strong rising trend. The red signal line and level below zero of the QQE MOD indicator show that the sponge market is still consolidating.
Rocky stakes his tokens worth $SPONGE
This is Rocky.
Rocky stakes his $SPONGE tokens.
Be like Rocky. pic.twitter.com/Z1AwsIm5Z7
— $SPONGE (@spongeoneth) April 3, 2024
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