Sponge (SPONGEUSDT): Bears Could Not Breakdown $0.000087 Level

Bulls are in control of the sponge market

SPONGEUSDT Price Analysis – 26 September

When the bulls hold onto the $0.000087 support level, Sponge will rise and surpass the $0.000136, $0.000196, and $0.000330 resistance levels. The $0.000006 and $0.000004 levels may be reached by the bears if they manage to break through the $0.000087 support.

Key Levels:

Supply level: $0.000136, $0.000196, $0.000330

Demand level: $0.000087, $0.000006, $0.000004

SPONGEUSDT Medium-term Trend: Bullish

The want to shop intensifies daily. Sponge will undoubtedly rise higher and perhaps cross the $0.000196 mark as more bullish candles form. The sponge is rising as a result of the current growth of bull power.  Recently, the price was compelled by the bearish trend to test the $0.000087 support level. In an effort to maintain the proper level of support, it moved backward. The price dropped the following day as a result of increased selling pressure, hitting a low of $0.000087 and this is attracting more buyers.

Bulls are currently in control of the sponge market, and sponge will shortly start trading above both the 9-period EMA and the 21-period EMA. When the bulls hold onto the $0.000087 support level, price will rise and surpass the $0.000136, $0.000196, and $0.000330 resistance levels. The $0.000006 and $0.000004 levels may be reached by the bears if they manage to break through the $0.000087 support.

SPONGEUSDT Medium-term Trend: Bullish

The price of SPONGEUSDT is rising on the 4-hour chart. The Coin is heading upward from its support level of $0.000087 as additional bullish candles continue to form. The resistance level of $0.000136 will be broken as a result of the demand of buyers in the sponge market. Increased bullish pressure may break through the $0.000196 barrier level.

Both the 9-period and 21-period EMAs are being crossed by the price at this time. The 14-period signal line for the Relative Strength Index will indicate a buy at level 25.

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