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SPONGEUSDT Price Analysis – 27 September
Sponge will increase and surpass the $0.000136, $0.000196, and $0.000330 resistance levels when the bulls hold onto the $0.000087 support level. If the bears are able to breach the $0.000087 support, they may go on to the $0.000006 and $0.000004 levels.
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000087, $0.000006, $0.000004
SPONGEUSDT Medium-term Trend: Bullish
Every day, the bulls’ pressure grows stronger. As additional bullish candles develop, Sponge will surely increase and maybe cross the $0.000196 threshold. Sponge is increasing as a result of the expansion of bull power right now. The recent bearish trend forced the price to challenge the $0.000087 support level. It retreated, trying to retain the right degree of support. Due to strong selling pressure the next day, the price fell to a low of $0.000087, which lured more purchasers.
The sponge market is currently being led by bulls, and sponge will soon begin trading above both the 9-period EMA and the 21-period EMA. Price will increase and surpass the $0.000136, $0.000196, and $0.000330 resistance levels when the bulls hold onto the $0.000087 support level. If the bears are able to breach the $0.000087 support, they may go on to the $0.000006 and $0.000004 levels.
SPONGEUSDT Medium-term Trend: Bullish
On the 4-hour chart, SPONGEUSDT’s price is increasing. The Coin is rising as more bullish candles continue to form from its support level of $0.000087. Due to buyer interest in the sponge market, the resistance level of $0.000136 will be broken. The $0.000196 barrier level may be broken through if bullish pressure increases.
The price is currently crossing both the 9-period and 21-period EMAs. Relative Strength Index’s 14-period signal line will show a buy at level 25.
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— $SPONGE (@spongeoneth) September 26, 2023
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