Sponge (SPONGEUSDT): Buyers Are Exerting Further Pressure
Login

Sponge (SPONGEUSDT): Buyers Are Exerting Further Pressure

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Sponge price will soon reach $0.000136 mark

SPONGE (SPONGEUSDT) Price Analysis – 20 October

The resistance levels of $0.000136, $0.000330, and $1,786 could be the next targets if the $0.000081 level holds. Support levels of $0.000006 and $0.000004 can be tested if the $0.000081 support level is broken downward.

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 looks at things with optimism for the future. Prices for sponges rise in response to consumer demand. On September 6, the $0.000136 resistance level gave way.  There were more bullish candles each day. At $0.000136, the price crossed above a critical pivotal level. Last week, the price fluctuated within the designated resistance levels. To draw in additional investors, sellers stepped up their pressure and broke the level toward the conclusion of the week. Buyers are currently exerting further pressure in an attempt to hit the $0.000136 threshold. Consumers are not yet worn out.

Sponge is trading above the 21- and 9-period EMAs and the two EMAs sloping northward suggest positive activity in the sponge market. The resistance levels of $0.000136, $0.000330, and $1,786 could be the next targets if the $0.000081 level holds. Support levels of $0.000006 and $0.000004 can be tested if the $0.000081 support level is broken downward.

SPONGEUSDT Medium-term Trend: Bullish

Sponge’s 4-hour chart exhibits a bullish inclination. The sellers’ intervention did not cause the market to become negative. It appears that the bulls at the previously mentioned resistance level have not completely let go of their pressure. On October 14, strong bullish candles appeared, indicating that buyers were increasing their pace. The price is going to rise beyond the $0.000136 barrier and head toward $0.000196.

Given that the coin is trading above both EMAs, there is probably more buying momentum. The period 14 signal line of the Relative Strength Index is rising upward at 35 levels, suggesting a buy signal.

$SPONGE Airdrop is about to stop!

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