Buyers are in control of sponge market
Sponge (SPONGEUSDT) Price Analysis – 16 July
If sellers increase their asset contributions and break through the critical $0.00050 support level, SPONGEUSDT might drop as low as $0.00026 and $0.00033 respectively. If buyers pick up more steam, they might attempt the $0.00077 and $0.00087 levels and surpass the $0.00061 resistance level.
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
The sponge is now in the buyers’ possession. The $0.00026 support level was the lowest point at which the price fell. For several days, the pricing remained that way. Price broke over the resistance levels of $0.00033 and $0.00050 as the bulls gained momentum. It withdrew and tried again with the $0.00050. On May 23, price broke past the $0.00050 resistance level and tested the $0.00061 barrier level. The prices are increasing at the moment.
The daily chart shows that buyers are in control of the market. The price action has produced a double bottom chart pattern on the daily chart. Right now, the price is moving back toward its earlier, higher level. If sellers increase their asset contributions and break through the critical $0.00050 support level, the market might drop as low as $10,000 and $0.00033 respectively. If buyers pick up more steam, they might attempt the $0.00077 and $0.00087 levels and surpass the $0.00061 resistance level. When the QQE MOD crypto signals indicator is rising, it represents a buy signal.
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SPONGEUSDT Medium-term Trend: Bullish
Sponge is upbeat based on the 4-hour chart pattern. The bulls on the 4-hour chart have been exerting pressure on the cryptocurrency’s performance ever since the long-term consolidation was broken. The price is gradually going up. A test was performed at the $0.00061 resistance level on May 23. The sellers’ persistence allowed them to regain the edge, despite the fact that it is currently sloping.
As long as the price is higher than the Hull Suite signal, buyers are in the lead. When the QQE MOD histogram is larger than zero, a purchase signal is displayed.
Before the #AltSeason, when your friend sells their $SPONGE bags
When your friend sells their $SPONGE bags before #AltSeason 💦💦💦 pic.twitter.com/SkNKS38QpM
— $SPONGE (@spongeoneth) July 7, 2024
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