Buyers will dominate Sponge market soon
SPONGEUSDT Price Analysis – 10 May
The price of the SPONGEUSDT may see a bearish reversal and drop below the support levels of $0.000311, $0.000249, and $0.000190 if the bulls are unable to break above the $0.000358 mark. If the bulls can maintain their momentum and break above the $0.000358 resistance level, the price may soar as far as $0.000400 and $0.000455, respectively.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000358, $0.000400, $0.000455
Support levels: $0.000311, $0.000249, $0.000190
SPONGEUSDT Long-term Trend: Bullish
On the SPONGEUSDT daily chart, the bulls are in charge. Reaching a consensus has taken the buyers and sellers more than two weeks. Strong bullish candles are appearing daily, and the price is rising gradually. Bulls drove the market higher on Sunday, breaking through the $0.000455 resistance level and hitting the high point of $0.000500 as a result of buyers’ momentum. Sellers prevented further increase and the price hits $0.000249 level. If bulls maintain their pressure, they could breach above the previously mentioned target.
Given that SPONGEUSDT is trading above the price mechanism of the Hull Suite Crypto signals, it appears to be gaining momentum. The price of the cryptocurrency may see a bearish reversal and drop below the support levels of $0.000311, $0.000249, and $0.000190 if the bulls are unable to break above the $0.000358 mark. If the bulls can maintain their momentum and break above the $0.000358 resistance level, the price may soar as far as $0.000400 and $0.000455, respectively.
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SPONGEUSDT Medium-term Trend: Bullish
The four-hour SPONGEUSDT chart shows an upward trend. Few days ago, the coin tested the $0.000500 resistance level due to the pressure from the bulls. The Bears are too strong for the Bulls to defeat at that level. To retest the broken level, the price pulled back. Right now, the price is retesting the previous low, which was reached at $0.000311.
The price ought to stay above the Hull Suite Crypto signaling indicator because it is getting closer to it. The price is rising, as indicated by the histogram line, and the QQE MOD Crypto signals will indicate a value spike that is higher than zero.
Here, there are only Ws.
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