The price is targeting $0.000196
SPONGEUSDT Price Analysis – 08 August
When $0.000196 barrier is broken, Sponge might rise to the $0.000330 and $0.000402 levels. If the bears manage to hold the $0.000196 resistance level, the price may retrace and come to rest against the $0.000136, $0.000093, and $0.000006 support levels.
Key Levels:
Supply level: $0.000196, $0.000330, $0.000402
Demand level: $0.000136, $0.000093, $0.000006
SPONGEUSDT Long-term trend: Bullish
SPONGEUSDT is bullish on the daily chart. For more than two weeks, the sellers dominated the SPONGE/USDT market. To give more buyers a chance, the negative trend drove the price to test the $0.000093 support level. At the indicated level, a bullish engulfing candle formed. The price rose and have broken up the $0.000136 resistance level. The price is currently rising toward $0.000196 resistance level.
SPONGEUSDT is currently trading above the 9-period and 21-period exponential moving averages, which point to a bullish market. The signal lines on the relative strength index period 14 are going upward, signaling a buy signal, and the index is at 77 levels. If the $0.000196 barrier is broken, Sponge might rise to the $0.000330 and $0.000402 levels. If the bears manage to hold the $0.000196 resistance level, the price may retrace and come to rest against the $0.000136, $0.000093, and $0.000006 support levels.
SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT is on the bullish movement in the medium-term outlook. Last week, the cryptocurrency fluctuated between the resistance levels of $0.000136 and $0.000093. The price is being pushed to the dynamic resistance levels as the bulls’ momentum grows. Buyers are applying further pressure to the $0.000136 resistance level. Sponge penetrated today and the price exposes to $0.000196.
The price is trading above the 9-period EMA and 21-period EMA, two indicators of a bullish market, and the bulls are currently in control of the market. However, the period 14 relative strength index is at 77 levels and pointing upward, signaling a buy signal.
preventing the crash of the cryptocurrency market…
Saving the #Crypto market crash be like… 💰🤣🔥 pic.twitter.com/wkSWG1XfKa
— $SPONGE (@spongeoneth) August 8, 2023
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