Sponge Price Is Rising as Investors’ Pressure Increase

Price is controlled by buyers

SPONGE (SPONGEUSDT) Price Analysis – 23 October

If the $0.000081 level holds, the goals might be the resistance levels of $0.000136, $0.000330, and $1,786. If the bearish trend breaches the $0.000081 support level, the support levels of $0.000006 and $0.000004 can be tested

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000136, $0.000196, $$0.000330

Support levels: $0.000081, $0.000006, $0.000004

SPONGEUSDT Long-term Trend: Bullish

Sponge has a bright future. Consumers aren’t yet worn out. Because of consumer pressure, sponge prices are rising. On September 6, the $0.000136 resistance level was not maintained. The number of bullish candles increased daily. At $0.000136, the price exceeded a critical pricing threshold. Last week, the price moved back and forth between the indicated resistance levels. In an effort to draw in additional investors, sellers stepped up their pressure and broke the level toward the conclusion of the week. At the moment, buyers are applying greater pressure and searching for the $0.000136 threshold.

Both the price trading above and the Hull Suite crypto signaling indicator indicate positive activity in the Sponge market. The targets might be the resistance levels of $0.000136, $0.000330, and $1,786 if the $0.000081 level holds. The support levels of $0.000006 and $0.000004 can be tested if the bearish trend breaks through the $0.000081 level.

SPONGEUSDT Medium-term Trend: Bullish

The four-hour Sponge chart shows a bullish trend. The selling disturbance did not cause a bearish market reversal. At the previously mentioned resistance level, it appears that the bulls’ pressure has not yet been released. On October 14th, strong bullish candles formed, indicating that buyers are increasing their speed. The price will rise near $0.000196 after breaking past the $0.000136 barrier level.

Because the price is higher than that of the Hull Suite, it seems that buyers are becoming more active. The QQE MOD displays a buy signal.

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