Bullish momentum increases in Sponge market
SPONGEUSDT Price Analysis – 28 February
The subsequent targets for growth will be the levels at $0.000695 and $0.000886. If the bears maintain control of the resistance level at $0.000581, the price of Sponge can decline to the support levels of $0.000577, $0.000500, and $0.000451.
Key levels:
Supply levels: $0.000581, $0.000695, $0.000886
Demand levels: $0.000577, $0.000500, $0.000451
SPONGEUSDT Long-term Trend: Bullish
In terms of the long term, SPONGEUSDT is positive. Even after the cryptocurrency found support at the $0.000451 level last week, sellers are still exerting pressure on the SPONGEUSDT market. The price of cryptocurrencies has bounced back and is moving in the direction of the $0.000581 barrier. More bullish daily candles were formed, and the level that was earlier highlighted was broken higher. At the moment bulls are prevailing in the market of Sponge.
The price’s proximity above the Hull Suite Crypto signals indicator indicates that the bulls’ momentum is strengthening. Moreover, there is a chance that the QQE MOD Crypto signals will surpass zero. Assuming the coin breaks over the resistance level at $0.000581, a further increase in the SPONGEUSDT price is expected after the price retracement. The subsequent targets for growth will be the levels at $0.000695 and $0.000886. If the bears maintain control of the resistance level at $0.000581, the price can decline to the support levels of $0.000577, $0.000500, and $0.000451.
SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT is beneficial when looking at things from a medium-term viewpoint. At the $0.000451 support level, buyers prevailed over sellers throughout the preceding week. The resistance levels of $0.000500 and $0.000577 are breached by the rising price. The $0.000581 resistance level is the target. The price breaches and holds above the previously mentioned level. Right now, bulls are returning to the market, and more price rises could occur.
The price has broken through the Hull Suite indication. The QQE MOD features an upward-pointing histogram line that denotes a purchase.
Not prepared for $SPONGE
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— $SPONGE (@spongeoneth) February 27, 2024
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