Bulls increase their pressure
SPONGEUSDT Price Analysis – 02 April
A retreat in a trending market is unavoidable, a further climb in the sponge price is widely anticipated. Should the bulls step up their pressure, the price level of $0.000577 may 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
The price of SPONGEUSDT is still following a bullish trend in the long run. The Sponge market was dominated by the Bulls. On March 15, the bullish trend peaked at the price of $0.000577. The price dropped to $0.000455 as a result of the Bears breaking the uptrend. For almost eight days, the coin moved sideways between the price levels of $0.000455 and $0.000500, suggesting that the momentum of the bulls and bears is about equal. A bullish candle can form and break through the $0.000577 supply barrier. The sponge market closed yesterday with a bullish candle on the daily chart, indicating a potential for future price increases.
The pricing technique of the Hull Suite Crypto signals indicates that the coin is trading above the indicator, indicating a strong positive momentum in the Sponge market. On the other hand, the buy signal is shown by the QEE MOD with the histogram signal line above 0 level. While a retreat in a trending market is unavoidable, a further climb in the sponge price is widely anticipated. Should the bulls step up their pressure, the price level of $0.000577 may be broken.
SPONGEUSDT Short-term Trend: bullish
Regarding the medium-term future, Sponge is optimistic. For over a week, Sponge was floating sideways between the price ranges of $0.000455 and $0.000500. The currency surged into the $0.000577 price level on March 15 as the Bulls broke through the $0.000500 mark. As the bulls’ enthusiasm waned, the price began to level off over $0.000500.
The fact that the sponge price is above the Hull Suite signal points to a significant upward trend. Consolidation is still occurring in the Sponge market, as indicated by the QQE MOD indicator’s red signal line and level below zero.
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