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Bulls’ power is causing Sponge prices to rise
SPONGEUSDT Price Analysis – 27 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 are able 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 bulls’ pressure is increasing daily. The sponge will undoubtedly rise as more bullish candles form and may perhaps surpass the $0.000196 barrier. Right now, the expansion of bull power is causing prices to rise. Sponge was compelled to test the $0.000087 support level due to the recent bearish trend. In an effort to maintain the proper level of support, it withdrew. The price dropped to a low of $0.000087 the following day as a result of intense selling pressure, which is attracting additional 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, the 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 are able to break through the $0.000087 support.
SPONGEUSDT Medium-term Trend: Bullish
The price of SPONGEUSDT is rising on the 4-hour chart. As additional bullish candles continue to form from its support level of $0.000087, the Coin is climbing. The resistance level of $0.000136 will be broken as a result of buyer interest in the sponge market. If bullish pressure builds, the $0.000196 barrier level may be broken through.
The 9-period and 21-period EMAs are being crossed by the price right now. At level 11, the 14-period signal line for the Relative Strength Index will indicate a buy.
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— $SPONGE (@spongeoneth) September 28, 2023
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