Bulls are returning into the market after a pullback
SPONGEUSDT Price Analysis – 22 February
After the price retracement, a further increase in the price of SPONGEUSDT is envisaged, provided the coin breaks up the resistance level of $0.000358, the next upward target will be $0.000457, and $0.000582 levels. In case the resistance level of $0.000358, is defended by the bears, the price may decline to the support levels of $0.000252, $0.000195, and $0.000148.
Key levels:
Supply levels: $0.000358, $0.000457, $0.000582
Demand levels: $0.000252, $0.000195, $0.000148
SPONGEUSDT Long-term Trend: Bullish
SPONGEUSDT is bullish, on the long-term outlook. When the coin found support at the $0.000356 level last week, sellers continued to exert pressure on the SPONGEUSDT market. The Crypto rebounded and increased toward the resistance level of $0.000252. More bullish daily candles were produced and the just mentioned level was broken upside. On February 19, the price tested the resistance level of $0.000358.
The price is trading above the Hull Suite indicator which indicates an increase in the bulls’ momentum. Also, the QQE MOD Crypto signals will soon be above zero level. After the price retracement, a further increase in the price of SPONGEUSDT is envisaged, provided the coin breaks up the resistance level of $0.000358, the next upward target will be $0.000457, and $0.000582 levels. In case the resistance level of $0.000358, is defended by the bears, the price may decline to the support levels of $0.000252, $0.000195, and $0.000148.
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SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT is bullish on the medium-term outlook. Buyers prevailed over the sellers, the last two weeks at the support level of $0.000148. The price increase and break up the resistance levels of $0.000195 and $0.000252. The resistance level of $0.000358 was tested. The just mentioned level holds and the price bounces off the level. Bulls are currently returning in to the market, there is a possibility for further price increases.
The price is trying to break up the Hull Suite indicator. The QQE MOD with the histogram line pointing up indicate buy.
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