Bulls’ pressure increases
SPONGEUSDT Price Analysis – 31 August
The next upward goals for the Sponge, which are likely to arrive after the price pullback, are the $0.000196 and $0.000330 levels, if it manages to break over the $0.000136 level of resistance.
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000093, $0.000004, $0.000006
SPONGEUSDT Long-term Trend: Bullish
SPONGEUSDT is bullish, on the long-term outlook. Last two weeks, Sponge found support at a price of $0.000093, and this week, sellers are still pushing the SPONGEUSDT market lower. The cryptocurrency has recovered and is rising near the $0.000136 barrier level. Daily candles that were more bullish in nature were produced, and the level noted above is about to be broken upward. On August 8, the price tested the $0.000196 resistance level and declined. Sponge is currently rising toward the prior peak.
The fact that the price is about crossing the two EMAs upwards suggests that the bullish momentum is gaining stronger. The 9-period EMA is also getting close to the 21-period level. The next upward goals for the currency pair, which are likely to arrive after the price pullback, are the $0.000196 and $0.000330 levels, if it manages to break over the $0.000136 level of resistance. If the bears are successful in holding the resistance level of $0.000136, the price may fall to the support levels of $0.000093. The relative strength index period 14 signal lines are pointing up and giving a buy signal at 42 levels.
SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT is bullish on the medium-term outlook. On August 8 over the previous two weeks, when the resistance level of $0.000136 was broken, buyers won out over sellers. Price growth and tested the $0.000196 resistance levels. Sponge bounces off the previously indicated level as the level holds. Bulls are currently returning to the market, thus there is a chance that prices will rise further.
The price is located between the EMAs of 21 and 9 periods, which are spaced apart from one another. With the signal line pointing up and the Relative Strength Index period 14 at 36 levels, buy is indicated.
#SPONGERS, fill in the blanks!
Fill in the blanks #SPONGERS!!!🧽
The #Crypto bull market is coming on …… ?📅 pic.twitter.com/1fRaQ1W0Ri
— $SPONGE (@spongeoneth) August 31, 2023
Invest in the hottest and best meme coin? Buy Sponge ($SPONGE) today!
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