Bulls are dominating SPONGEUSDT market
SPONGEUSDT Price Analysis – 15 January
Should the bulls penetrate the resistance level of $0.000886, it may increase to $0.00100 and $0.00115 levels. Sponge may reverse and trend down towards the support level of $0.000695, $0.000577 and $0.00115 in case the resistance level of $0.000886 holds.
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 is bullish on the daily chart. The bulls’ momentum has pushed the price to reach the high of $0.000886. The mentioned resistance level has been put the price on hold. That means the mentioned level is significant in the SPONGEUSDT market. In case the current daily candle end up with the formation of an inverted Pin bar, the price may reverse and the bears may take over the market.
The Hull suite indicator remains above the price as an evidence of uptrend. The price is trading above mentioned indicator at a distance as an indication of the strong bullish trend. Should the bulls penetrate the resistance level of $0.000886, it may increase to $0.00100 and $0.00115 levels. The price may reverse and trend down towards the support level of $0.000695, $0.000577, and $0.00115 in case the resistance level of $0.000886 holds.
SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT is on the bullish movement on the 4-hour chart. The price action on the 4-hour chart has formed a double-bottom chart pattern at a support level of $0.000498. The first break up at $0.000557 level increased the price. The price pulled back to retest the broken level. The second break up of 0.000695 pushed up price to test $0.000886 level. The price is currently consolidating at the mentioned level.
The price is trading above the Hull Suite indicator. The QQE MOD is above zero level with the signal line green to indicate buy signal.
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