Sponge (SPONGEUSDT) Price: Buyers Reject Further Decrease at $0.00026

Buyers’ pressure increases

Sponge (SPONGEUSDT) Price Analysis – 17 June

In case sellers put in more asset the key support level of $0.00050 may be broken downside and the low of $0.00033 and $0.00026 may be reached. When buyers increase their momentum, resistance level of $0.00061 may be broken upside then, $0.00077 and $0.00087 levels may be tested in.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.00061, $0.00077, $0.00087

Support levels: $0.00050, $0.00033, $0.00026

SPONGEUSDT Long-term Trend: Bullsh

Sponge is under Buyers’ control. The price bottomed at the support level of $0.00026. SPONGEUSDT consolidate for many days at the same level. The bulls gained momentum and push the price to break up the resistance levels of $0.00033 and $0.00050. It pulled back and retest the $0.00050. The price broke up the resistance level of $0.00050 and tested the resistance level of $0.00061 on May 23. The price is pulling back at the moment.

The daily chart has shown that Buyers are dominating the market. The price action has formed a double bottom chart pattern on the daily chart. At the moment, the price is carrying out retracement. In case sellers put in more asset the key support level of $0.00050 may be broken downside and the low of $0.00033 and $0.00026 may be reached. When buyers increase their momentum, resistance level of $0.00061 may be broken upside then, $0.00077 and $0.00087 levels may be tested. The QQE MOD crypto signals indicator pointing up to indicate buy signal.

SPONGEUSDT Medium-term Trend: Bullish

Sponge is bullish in the 4-hour chart pattern. The crypto performance has been under the bulls’ pressure in the 4 hour chart. After the breakout from the long time consolidation. The price steadily increase. The resistance level of $0.00061 was tested on May 23. The sellers’ pressure rejected the increase and it is currently pulling back.

The price is trading above the Hull Suite inidicator as an indication that the buyers are in control. The QQE MOD with its histogram above zero level indicating buy signal.

PAMP $SPONGE

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— $SPONGE (@spongeoneth) June 16, 2024

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