Bulls are gathering momentum in Sponge market
Sponge (SPONGEUSDT) Price Analysis – 18 July
The price is currently returning to its previous, higher level. SPONGEUSDT may fall as low as $0.00026 and $0.00033, respectively, if sellers raise their asset contributions and surpass the crucial $0.00050 support level. Buyers may try to break through the $0.00061 resistance level and try the $0.00077 and $0.00087 levels if they gain additional momentum.
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 buyers currently own the sponge. The price dropped to its lowest point at the $0.00026 support level. That’s how the prices stayed for a few days. As the bulls gathered traction, price broke through the resistance levels of $0.00033 and $0.00050. It pulled back and gave the $0.00050 another go. Price tested the $0.00061 barrier level on May 23, breaking through the $0.00050 resistance level. Right now, the prices are rising.
The daily chart indicates that the market is dominated by buyers. On the daily chart, the price movement has resulted in a double bottom chart pattern. The price is currently returning to its previous, higher level. The market may fall as low as $0.00026 and $0.00033, respectively, if sellers raise their asset contributions and surpass the crucial $0.00050 support level. Buyers may try to break through the $0.00061 resistance level and try the $0.00077 and $0.00087 levels if they gain additional momentum. A purchase signal is indicated when the QQE MOD crypto signals indicator is increasing.
SPONGEUSDT Medium-term Trend: Bullish
Based on the 4-hour chart pattern, Sponge is optimistic. Since the long-term consolidation was broken, the 4-hour chart’s bulls have been applying pressure on the cryptocurrency’s performance. The cost is rising steadily. On May 23, a test was conducted at the $0.00061 resistance level. Even though it is currently sloping, the sellers’ perseverance gave them the advantage again.
Buyers are in the lead as long as the price is greater than the Hull Suite signal. A purchase signal appears when the QQE MOD histogram is larger than zero.
genuine knows genuine 💦. $SPONGE
Real recognises real 💦 $SPONGE pic.twitter.com/Ru8zdE0QfD
— $SPONGE (@spongeoneth) July 18, 2024
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