Sponge Price: Bulls’ Enthusiasm Is Increasing

Buyers are warming up in Sponge market

SPONGEUSDT Price Analysis – 24 April

A retreat in a trending market is unavoidable, yet further increases in sponge prices are typically anticipated. There is a possibility that the price barrier at $0.000356 will be broken if the bulls work harder.

Key Levels:

Resistance levels: $0.000311, $0.000356, $0.000401

Support levels: $0.000250, $0.000192, $0.000147

 

SPONGEUSDT Long-term Trend: Bullish

The price of SPONGEUSDT keeps rising over time. In the sponge market, the Bulls were the greatest team. On March 15, the bullish trend peaked at $0.000577. The price crashed to $0.000250 when the Bears broke the uptrend. For around eight days, the currency moved in a horizontal fashion, ranging from $0.000250 to $0.000311, suggesting that the momentum of the bulls and bears is almost equal. A bullish candle can form and break through the $0.000311 supply barrier. The sponge market finished yesterday with a bullish candle on the daily chart, indicating an inclination in price.

Hull Suite Crypto signals pricing approach shows that the currency is currently trading above the indicator, indicating a strong positive momentum in the Sponge market. In a similar vein, when the histogram signal line is above the zero level, the QEE MOD shows the buy signal. A retreat in a trending market is unavoidable, yet further increases in sponge prices are typically anticipated. There is a possibility that the price barrier at $0.000356 will be broken if the bulls work harder.

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SPONGEUSDT Short-term Trend: bullish

 

Sponge finds hope in the intermediate future. For more than a week, Sponge’s price fluctuated between $0.000311 and $0.000250. The price of the cryptocurrency shot up to $0.000577 on March 15 as the Bulls broke through the $0.000500 barrier. The enthusiasm of the bulls faded as the price began to stabilize at $0.000250.

Given that sponge pricing is above the Hull Suite indicator, it is clearly rising. The sponge market is continuing to consolidate, as shown by the red signal line and level below zero of the QQE MOD indicator.

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