SPONGEUSDT Price Is Struggling to Break Up $0.00100 Level

Bulls momentum increases in the Sponge market

SPONGEUSDT Price Analysis – 18 January

If the bulls manage to break through the resistance level at $0.00100, they could move as high as $0.00115 and $0.00129. If the resistance level of $0.00100 holds, Sponge can turn around and move down toward the support levels of $0.000886, $0.000695, and $0.000577.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.00100, $0.00115, $0.00129

Support levels: $0.000886, $0.000695, $0.000577

SPONGEUSDT Long-term Trend: Bullish

The daily SPONGEUSDT chart is bullish. The price reached its greatest point at $0.00100, driven by the bulls’ momentum. The price has been held due to the identified resistance level. This implies that in the SPONGEUSDT market, the previously mentioned level is important. The price may turn around and the bears may take the lead in the market if the current daily candle cannot close above $0.00100 resistance level.

Since the Hull suite indicator is below the price, it keeps displaying an upward trend. The price trades much above the indicated indicator, indicating a strong positive trend. If the bulls break through the resistance level at $0.00100, they could move as high as $0.00115 and $0.00129. If the resistance level of $0.00100 holds, the price can turn around and move down toward the support levels of $0.000886, $0.000695, and $0.000577.

SPONGEUSDT Medium-term Trend: Bullish

The SPONGEUSDT 4-hour chart exhibits bullish action. The price action on the 4-hour chart has resulted in a double-bottom chart pattern close to the support level of $0.000498. The price rose after the initial breakdown at $0.000557. To retest the broken level, the price pulled back. Price rose to challenge the $0.00100 resistance level following the second collapse at $0.000695. Right now, the price is trying to break up $0.00100 level.

The current pricing is exceeding the Hull Suite indicator. A purchase indication is indicated by the green signal line when the QQE MOD is higher than the zero level.

Prepare to take in additional DAMP!

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