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Bulls are increasing in Sponge market
SPONGEUSDT Price Analysis – 29 August
Sponge may rise toward the resistance level of $0.000136, which is followed by the levels of $0.000196 and $0.000330 if more buyers come to the market this week
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000093, $0.000006, $0.000004
SPONGEUSDT Medium-term Trend: Bullish
Last three weeks, buyers of SPONGEUSDT were able to significantly push the price above the $0.00036 barrier level. Sponge moved in the direction of the $0.000196 resistance level as a result of the positive pressure. Strong bearish candles formed, driving the price lower. In the direction of the $0.000093 support level, the price reversed course. The buyers were able to stop the negative momentum at the support level of $0.000093. The price is currently heading in the direction of the previous high of $0.000136.
There is a potential that the price will rise during the course of the following trading days because a pin bar candle pattern developed on the daily chart. The relative strength index period 14 is at 42 levels, the signal lines are pointing north, and Sponge is trading slightly above the two exponential moving averages (EMAs) on the daily chart.
SPONGEUSDT Price Medium-term Trend: Bullish
SPONGEUSDT on the medium term is bullish. The coin challenged the $0.000196 level of resistance after breaking past the dynamic resistance level from the previous week. As the bulls gain more strength and momentum, the price is currently being driven below the $0.000136 support level.
The price may rise toward the resistance level of $0.000136, which is followed by the levels of $0.000196 and $0.000330, if more buyers come to the market this week. The relative strength index period 14 is close to $37. The signal lines pointing north imply a likely price increase.
Crypto Legends are similar to…
#Crypto legends be like… 🚀🔥😎 pic.twitter.com/7n1m6qAZwK
— $SPONGE (@spongeoneth) August 29, 2023
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