The next upward targets for the Sponge is $0.000136
SPONGEUSDT Price Analysis – 04 September
The $0.000196 and $0.000330 levels, which are likely to surface after the price pullback, are the next upward targets for the currency pair if it is successful in breaking over the $0.000136 level of resistance.
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000087, $0.000004, $0.000006
SPONGEUSDT Long-term Trend: Bullish
On the long term, the SPONGEUSDT is bullish. Over the past two weeks, the price of the Crypto found support at $0.000087, and this week, sellers are still pushing the SPONGEUSDT market lower. A few weeks ago, the coin’s value rose above the $0.000136 mark. Daily candles that were more bullish than bearish were produced, and the level of $0.000196 was about to be broken higher. On August 8, the price tested the $0.000196 barrier level before dropping. The price will soon increase toward the prior peak.
Sponge impending upward crossover with the two EMAs shows that the bullish trend is gaining traction. The 9-period EMA is also getting close to the 21-period mark. The $0.000196 and $0.000330 levels, which are likely to surface after the price pullback, are the next upward targets for the Sponge if it is successful in breaking over the $0.000136 level of resistance. If the bears are successful in holding the resistance level of $0.000136, the price may fall to the support levels of $0.000067. The relative strength index period 14 signal lines, which are pointing up, are providing a buy signal at level 42.
SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT is bullish on the medium-term outlook. Buyers beat out sellers after the resistance level of $0.000136 was broken on August 8 over the previous four weeks. Price increase was put to the test against $0.000196 of opposition. Sponge bounces off the prior level as the level holds. It’s possible that the market will rise even higher now that bulls are starting to return.
The price is located between the 21- and 9-period EMAs that are spaced apart from one another. With the Relative Strength Index period 14 at 28 levels and the signal line moving higher, buying is advised.
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— $SPONGE (@spongeoneth) September 4, 2023
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