SPONGEUSDT Price Is Currently Striving Toward Prior High Point

There is a strong positive trend in the Sponge market

SPONGEUSDT Price Analysis – 17 January

The bulls may advance as high as $0.00100 and $0.00115 if they overcome the resistance level at $0.000886, which they might do. Sponge may reverse and descend toward the support levels of $0.000695, $0.000577, and $0.00115 if the resistance level of $0.000886 persists

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000886, $0.00100, $0.00115

Support levels: $0.000695, $0.000577, $0.000498

SPONGEUSDT Long-term Trend: Bullish

SPONGEUSDT daily chart shows bullishness. The bulls’ momentum caused the price to spike at $0.000886, its highest point. Because of the indicated resistance level, the price has been put on hold. This suggests that the aforementioned level holds significance in the SPONGEUSDT market. If the current daily candle forms an inverted Pin bar, the price can reverse and the bears could take the lead in the market.

The Hull suite indicator continues to show an upward trend since it is below the price. There is a strong positive trend in the price as it is trading well above the stated indicator. The bulls may advance as high as $0.00100 and $0.00115 if they overcome the resistance level at $0.000886, which they might do. Sponge may reverse and descend toward the support levels of $0.000695, $0.000577, and $0.00115 if the resistance level of $0.000886 persists

SPONGEUSDT Medium-term Trend: Bullish

The 4-hour chart shows bullish movement for SPONGEUSDT. The 4-hour chart’s price movement has produced a double bottom chart pattern near the $0.000498 support level. Following the initial breakdown at $0.000557, the price increased. The price retreated to retest the broken level. After the second breakdown at $0.000695, the price increased to test the $0.000886 level. The price is currently striving toward the prior high point.

The price is trading above the Hull Suite indication. When the QQE MOD is above the zero level, the green signal line indicates a purchase signal.

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