Buyers’ enthusiasm is picking up in the sponge market
Sponge Price Analysis: 14 February
If buyers can push the price past the $0.000886 resistance level, Sponge may advance toward the $0.000996 and $0.001158 barrier levels. The price may decline toward the support levels of $0.000697, $0.000580, and $0.000500 if the $0.000886 resistance level holds
Key Levels:
Resistance Levels: $0.000886, $0.000996, $0.001158
Support Levels: $0.000697, $0.000580, $0.000500
SPONGEUSDT Long-term Trend: Bullish
Sponge is rising on the daily chart. On January 27, the currency hit a low of $0.000500 as a result of a significant bearish trend. The bulls were able to retain the previously mentioned level and break the resistance levels of $0.000580 and $0.000886, which caused the price to rise. After testing the $0.000697 resistance level on February 3, it withdrew to investigate the $0.000580 support level. More buying pressure last week caused the $0.000697 barrier to break, exposing the coin to the $0.000886 resistance level.
In the coming week, Sponge market can be dominated by bulls. The price of Sponge is breaking the upside of the dynamic resistance level. The Hull Suite crypto indicator is being traded above by the coin. If buyers can push the price past the $0.000886 resistance level, the price may advance toward the $0.000996 and $0.001158 barrier levels. According to Crypto Signals Sponge may decline toward the support levels of $0.000697, $0.000580, and $0.000500 if the $0.000886 resistance level holds. It would be a good idea to buy since the QQE MOD is above zero. Join the best forex signals telegram.
SPONGEUSDT Price Medium-term Trend: Bullish
Sponge’s 4-hour chart is trending upward. The downward trend ended as the price got close to the $0.000500 support level. As the bulls gained more traction, the price continued to surge north. The resistance level of $0.000697 has been breached on the upside.
The resistance level around $0.000886 may be the aim as the price is now retreating. The Sponge market is currently showing bullish momentum as the price is trading just above both the Hull Suite signal. A buy signal is shown by the QQE MOD.
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