Sponge Price: Bearish Pressure May Fail Soon

Buyers’ momentum will trigger sponge market

Sponge Price Analysis: 20 February

If the buyers are able to break through the $0.000358 barrier, S&P 500 can move up toward the resistance levels of $0.000457 and $0.000582. The price may drop to the support levels of $0.000252, $0.000195, and $0.000148 if the $0.000358 resistance level holds.

Price Levels:

Resistance Levels: $0.000358, $0.000457, $0.000582

Support Levels: $0.000252, $0.000195, $0.000148

SPONGEUSDT Long-term Trend: Bullish

The daily chart for Sponge is rising. The currency had a notable decline, with a low of $0.000582 recorded on January 27. Following the bulls’ successful defense of the $0.000582 support level and their breakthrough of the resistance levels at $0.000697, the price increased. The resistance level at $0.000886 was investigated on February 4. As a phenomenon, prices are currently falling in a market that is trending. The sponge market may see a bull run this following week.

 

The Sponge price is trading below the Hull Suite dynamic resistance level, and it may soon start to trade over it. If the buyers are able to break through the $0.000358 barrier, the price can move up toward the resistance levels of $0.000457 and $0.000582. The price may drop to the support levels of $0.000252, $0.000195, and $0.000148 if the $0.000358 resistance level holds. The best cryptocurrency signal indicator, QQE MOD, is below zero and is moving lower.

SPONGEUSDT Price Medium-term Trend: Bullish

The 4-hour chart for Sponge is going upward. When the price got closer to the $0.000582 support level, the downward trend stopped. As the bulls gained more traction, the price increased. Examining the resistance level, the upward trend overcame the resistance barrier at $0.000697. To break through the $0.001158 barrier, bulls’ strength will have to double. There may be further positive action after the reversal.

Sponge prices are currently slightly below both Hull Suite indicators, which suggests a bearish market. When the Crypto signals QQE MOD lower zero level, it represents a selling opportunity.

When they advise you to relax on the wet.

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— $SPONGE (@spongeoneth) February 20, 2024

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