Buyers’ momentum increases in Sponge market
SPONGEUSDT Price Analysis – 16 May
If the bulls are unable to break over the $0.000356 barrier, the price of the cryptocurrency may witness a negative reversal and fall below the support levels of $0.000309, $0.000250, and $0.000189. The price may rise as high as $0.000400 and $0.000455, respectively, if the bulls are able to keep up their pace and break above the $0.000356 resistance mark.
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
The bulls are in control of the SPONGEUSDT daily chart. It has been more than two weeks since the buyers defeated the bears. The price is steadily increasing, and strong bullish candles are visible every day. Bulls drove the market higher, breaking over the $0.000356 resistance level and attaining the high point of $0.000400 thanks to the passion of customers. At $0.000400, sellers are attempting to prevent the price from climbing any higher. Bulls may break over the previously mentioned target if they keep up their pressure.
It looks to be gaining momentum because SPONGEUSDT is trading above the Hull Suite Crypto signals’ price mechanism. If the bulls are unable to break over the $0.000356 barrier, the price of the cryptocurrency may witness a negative reversal and fall below the support levels of $0.000309, $0.000250, and $0.000189. The price may rise as high as $0.000400 and $0.000455, respectively, if the bulls can keep up their pace and break above the $0.000356 resistance mark.
SPONGEUSDT Medium-term Trend: Bullish
The SPONGEUSDT four-hour chart exhibits a rising trend. Yesterday’s bullish impetus pushed the coin to test the $0.000356 barrier level. At that point, the Bears are still beatable by the Bulls. After surpassing the previously indicated level, the price tests the $0.000400 level. The price is currently testing the previous high of $0.000400.
As long as it is trading above the Hull Suite Crypto signaling indicator, the price should remain above it. The histogram line shows that the price is rising, and the QQE MOD Crypto signals will show a value spike that is greater than zero.
Anon, did you fade $SPONGE once more?
Did you fade $SPONGE again, anon? #SpongeV2 #Crypto #ElonMusk pic.twitter.com/TPgxfIZRhF
— $SPONGE (@spongeoneth) May 16, 2024
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