Buyers are in control of Sponge market
SPONGEUSDT Price Analysis – 15 May
The price of the SPONGEUSDT may see a bearish reversal and drop below the support levels of $0.000309, $0.000250, and $0.000189 if the bulls are unable to break over the $0.000356 barrier. If the bulls can maintain their momentum and break above the $0.000356 resistance level, the price may increase as far as $0.000400 and $0.000455, respectively
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000356, $0.000400, $0.000455
Support levels: $0.000309, $0.000250, $0.000189
SPONGEUSDT Long-term Trend: Bullish
On the SPONGEUSDT daily chart, the bulls are in charge. Over two weeks have passed since the buyers overcame the bears. The price is gradually rising, and there are powerful bullish candles every day. Bulls drove the market higher, breaking over the $0.000358 resistance level and hitting the high point of $0.000400 thanks to the fervor of purchasers. At $0.000400, sellers are attempting to prevent the price from going any higher. If bulls maintain their pressure, they could breach above the previously outlined objective.
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 $0.000309, $0.000250, and $0.000189 if the bulls are unable to break over the $0.000356 barrier. If the bulls can maintain their momentum and break above the $0.000356 resistance level, the price may increase as far as $0.000400 and $0.000455, respectively.
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SPONGEUSDT Medium-term Trend: Bullish
The four-hour chart of SPONGEUSDT shows a rising trend. The pressure from the bulls yesterday forced the coin to test the resistance level of $0.000356. The Bears are still manageable for the Bulls to defeat at that time. The price tests the $0.000400 level after breaking through the previously mentioned level. Right now, the price is testing the prior high of $0.000400.
The price ought to stay above the Hull Suite Crypto signaling indication as long as it is trading above 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.
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