SPONGEUSDT Price Is Pulling Back at $0.000136 Resistance Level

Bulls will rule SPONGEUSDT market soon

SPONGEUSDT Price Analysis – 14 August

The bulls can push Sponge up to break the resistance level of $0.000136, which may extend to $0.000196 and $0.000330 level. In case the bears defend the $0.000093 level; Sponge may reverse and be confronted with the support level at $0.000004 and $0.000006.

Key Levels:

Supply level: $0.000136, $0.000196, $0.000330

Demand level: $0.000093, $0.000004, $0.000006

SPONGEUSDT Long-term Trend: Bullish

Sponge is bullish on the daily chart. The coin found support at $0.000093 on 22 June. A bullish chart pattern formed called the morning star; this triggered the bullish momentum and the price increases to test the resistance level of $0.000196. The price is currently pulling back touching the previous low support level.

After the pullback, the bulls can push the price up to break the resistance level of $0.000136, which may extend to $0.000196 and $0.000330 levels. In case the bears defend the $0.000136 level; Sponge may reverse and be confronted with the support level at $0.000093, $0.000004, and $0.000006. The two dynamic levels are close to each other and the 9-period EMA is trying to cross the 21 periods EMA upside to establish a bullish momentum.

SPONGEUSDT Medium-term Trend: Bullish

Sponge is bullish on the 4-hour chart. The bears push down the pair to a support level of $0.000093. The bulls opposed the price declination and it increases towards the resistance level of $0.000136 and tested the level on 08 August. The resistance level of $0.000136 holds and the price is pulling back.

SPONGEUSDT is trading between the two EMAs which indicates a gradual increase in the bulls’ momentum and the 9 periods EMA is trying to cross the 21 EMAs upside to establish a bullish momentum. The relative strength index period 14 is bending up at 44 levels to indicate a buy signal.

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— $SPONGE (@spongeoneth) August 14, 2023

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