Buyers are on increase
Sponge Price Analysis – 10 September
If the price breaks through the $0.000329 barrier level and encounters resistance in the $0.000404 to $0.000502 region, bulls might be able to maintain their lead in the market. A price drop below the $0.000196 and $0.000136 support levels could occur if $0.000262 is not maintained.
Sponge/USD Market
Key levels:
Resistance levels: $0.000329, $0.000404, $0.000502
Support levels: $0.000262, $0.000196, $0.000136
SPONGEUSDT Long-term Trend: Bullish
Bullish on the daily SPONGEUSDT chart. When a bullish reversal chart pattern appeared at the $0.000136 support level last month, bears were alerted. The money consequently soars up north like an eagle. Before breaking above the $0.000262 barrier, price broke above the resistance levels of $0.000136 and $0.000196. It retreats in an attempt to reenter the broken $0.000262 level. It’s currently approaching $0.000329, which was the previous high.
Buyers are starting to return to the SPONGE market following the recession. Positive tendencies are shown by the price moving above the Hull Suite signal and the upward trajectory of the best Crypto indicator. If the price breaks through the $0.000329 barrier level and encounters resistance in the $0.000404 to $0.000502 region, bulls might be able to maintain their lead in the market. A price drop below the $0.000196 and $0.000136 support levels could occur if $0.000262 is not maintained.
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SPONGEUSDT medium-term Trend: Bullish
SPONGEUSDT’s four-hour chart exhibits a rising trend. The medium-term trend is still strong even though the bulls are under increasing pressure. When resistance levels like $0.000329 and $0.000404 collapse, the $0.000502 resistance level will be put to the test. The price is staying at the previously mentioned level and is heading back to the prior high of $0.000404.
Because the price is higher than the Hull Suite indicator, it appears like the market is moving quickly. The market is positive since the coin is trading above the Crypto signal. When the QQE MOD indicator is greater than zero, a purchase signal is displayed.
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— $SPONGE (@spongeoneth) September 6, 2024
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