Sponge (SPONGEUSDT) Breaks Up $0.000136 Resistance Level
Login

Sponge (SPONGEUSDT) Breaks Up $0.000136 Resistance Level

Estimated Reading Time: 3 minutes

Azeez Mustapha

Updated:

Bulls are dominating Sponge market

SPONGEUSDT Price Analysis – 08 August

Sponge created a daily bullish candle on the daily time frame, indicating the likelihood that the price will rise and test $0.000196 resistance level. If the bulls apply more pressure, the price will move past the $0.000330 and $0.000402 resistance levels.

Key Levels:

Supply level: $0.000196, $0.000330, $0.000402

Demand level: $0.000136, $0.000093, $0.000006

SPONGEUSDT Medium-term Trend: Bullish

SPONGEUSDT is in a bullish trend in its long-term outlook. Following a price decline last week toward the support level of $0.000093, the significant negative pressure was dissipated. The attempt to break lower beneath the indicated support level failed, and the price ended the day higher. By creating bullish candles and rallying to the north, more buyers entered the market under increased pressure, and the former resistance level of $0.000196 is broken upside.

As of right now, the price created a daily bullish candle on the daily time frame, indicating the likelihood that Sponge will rise and test $0.000196 resistance level. If the bulls apply more pressure, the price will move past the $0.000330 and $0.000402 resistance levels. On the daily chart, Period 14’s relative strength index is above level 60, indicating that this week is likely to see bullish activity.

SPONGEUSDT Price Medium-term Trend: Bullish

The cryptocurrency in the medium term is bullish. The price increased as additional bullish candles formed and it crossed over the 9 and 21-day EMAs at the same time, a sign that bulls were gaining control of the market. A sponge is increasing above the $0.000136 resistance level and it is targeting the resistance level at $0.000196.The medium-term forecast for the coin is bullish above the channel as additional bullish candles are produced.

The Relative strength index Period 14 on the 4-hour chart is at 62 levels with its signal lines pointing towards the north suggesting an increase in price.

Take advantage of the opportunity to trade $SPONGE on @bitgetglobal!

Invest in the hottest and best meme coin. Buy Sponge ($SPONGE) today!

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News