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Sponge market experiences strong Bullish momentum
SPONGE (SPONGEUSDT) Price Analysis – 31 October
The resistance levels of $0.000196, $0.000330, and $0.000402 can be the next goals if the $0.000136 level is maintained. Support levels of $0.000081 and $0.000006 can be looked at if the $0.000136 support level is broken below
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000196, $0.000330, $0.000402
Support levels: $0.000136, $0.000081, $0.000006
SPONGEUSDT Long-term Trend: Bullish
Sponge has hope for the future. Customers’ demand is increasing every day and the Sponge prices break up the former resistance level of $0.000136. It is currently aiming at $0.000196 as customers’ demands are directly correlated with price increases. Every day, the number of bullish candles increased. Sponge crossed over a crucial resistance level at $0.000136. The price has varied over the last two weeks both inside and outside of the indicated resistance levels. Buyers are exerting additional pressure and trying to draw in more investors today. Right now, buyers are putting greater pressure on the price to reach $0.000196.
The two moving averages (EMAs) that slope northward indicate that bullish trade is taking place, and the sponge’s 9- and 21-period EMAs are crossing. The resistance levels of $0.000196, $0.000330, and $0.000402 can be the next goals if the $0.000136 level is maintained. Support levels of $0.000081 and $0.000006 can be looked at if the $0.000136 support level is broken below.
SPONGEUSDT Medium-term Trend: Bullish
The 4-hour chart of Sponge shows a bullish trend. It is seen that the resistance level at $0.000136 is still under attack from the bulls. The market was not negatively impacted by the sellers’ actions. The robust bullish candles of today suggest that buyers are moving more quickly. Going forward, the price will rise to $0.000196 level soon.
There is most likely more purchasing momentum because the coin is trading above both EMAs. The Relative Strength Index’s period 14 signal line, which rises at 64, indicates a buy signal.
Prepare to ride the waves of indirect benefits.
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— $SPONGE (@spongeoneth) October 31, 2023
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