SPONGE (SPONGEUSDT) Price: Bulls Are Continuing to Advance

Sponge attracts more buyers

SPONGE (SPONGEUSDT) Price Analysis – 10 October

The sponge is getting close to the $0.000136 resistance level, which could be breached if the Bulls gain more traction, however, a pullback is unavoidable. If the Bulls’ momentum wanes, the price may briefly consolidate

Price Level:

Resistance Level: $0.000136, $0.000196, $0.000330

Support Level: $0.000081, $0.000006, $0.000004

SPONGEUSDT Long-Term Trend: Bullish

The price of sponges has a promising long-term future. The Sponge had a bearish month before. The market lost ground and finished beneath the $0.000081 support level. After breaching the confluence at the resistance level of $0.000136 on August 7, the price of the sponge climbed in the direction of $0.000196. The recently highlighted level was not crossed by the bullish surge. There was a reduction in price to attract more investors. The $0.000136 resistance level is where Sponge is now heading.

Sponge is currently trading above 21-period and 9-period moving averages. The cryptocurrency’s price rose and stayed above the two EMAs. It is clear that the bulls are in control of the market because the two EMAs are bending in the direction of price movement. The signal lines’ upward bending and the relative strength index’s level of 54 for period 14 both show that the bulls are in control of the market.

Sponge is approaching the $0.000136 resistance level, which the Bulls could break if they get more momentum, but a pullback is certain. The price may momentarily consolidate if the momentum of the Bulls dwindles.

SPONGEUSDTUSD Short-term Trend: Bullish

For SPONGEUSDT, a short-term bullish trend is anticipated. The Bulls are continuing to advance on the 4-hour chart. Bullish momentum increased, and as a result, the prior 9-period and 21-period EMA dynamic resistance levels were broken. The coin is currently increasing toward the $0.000136 resistance level.

As the 9-period EMA passes the 21-period EMA higher, the coin is trading above the two EMAs. The upward-pointing signal lines for the Relative Strength Index period 14 indicate a purchase signal at 57 levels.

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— $SPONGE (@spongeoneth) October 9, 2023

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