Buyers are increasing
Sponge (SPONGEUSDT) Price Analysis – 19 June
If sellers contribute more assets, the $0.00050 important support level can be breached, perhaps leading to a decline to the lows of $0.00033 and $0.00026 in SPONGEUSDT market. The $0.00061 resistance level may be broken upside when buyers gain more impetus, at which point the $0.00077 and $0.00087 levels might be put to the test. The buy signal is indicated by the QQE MOD crypto signals indicator pointing up.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.00061, $0.00077, $0.00087
Support levels: $0.00050, $0.00033, $0.00026
SPONGEUSDT Long-term Trend: Bullish
Sponge is in the hands of the buyers. The $0.00026 support level was the price’s lowest point. For several days, the price stayed steady at that level. The price broke through the resistance levels of $0.00033 and $0.00050 as the bulls gained strength. It withdrew and tested the $0.00050 again. On May 23, the price broke through the $0.00050 resistance level and tested the $0.00061 barrier level. The price is currently declining.
The daily chart indicates that the market is dominated by buyers. On the daily chart, the price movement has created a double bottom chart pattern. The price is currently retracing its movements. If sellers contribute more assets, the $0.00050 important support level can be breached, perhaps leading to a decline to the lows of $0.00033 and $0.00026. The $0.00061 resistance level may be broken upside when buyers gain more impetus, at which point the $0.00077 and $0.00087 levels might be put to the test. The buy signal is indicated by the QQE MOD crypto signals indicator pointing up.
SPONGEUSDT Medium-term Trend: Bullish
Based on the 4-hour chart pattern, SPONGEUSDT is optimistic. On the 4-hour chart, the bulls have been applying pressure on the cryptocurrency performance. following the long-term consolidation’s breakthrough. The cost is rising steadily. On May 23, a test was conducted at the $0.00061 resistance level. The increase was rejected by the sellers’ pressure, and it is now retreating.
Do you even $SPONGE, bro?
Bro, do you even $SPONGE? 🧽 pic.twitter.com/fXZCb3hut6
— $SPONGE (@spongeoneth) June 19, 2024
As a sign that buyers are in charge, the price is trading above the Hull Suite indicator. The QQE MOD indicates a purchase signal when its histogram is above zero.
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