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Sponge is targeting$0.000136 level
SPONGE (SPONGEUSDT) Price Analysis – 13 October
Sponge is getting close to the $0.000136 resistance level, which the Bulls could break if they get more impetus. 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
Sponge prices are expected to increase. The Sponge had a bad season the month before. The $0.000081 support level was breached, causing the market to lose ground and close lower. On August 7, Sponge’s price rose toward $0.000196 after breaking through a confluence at the resistance level of $0.000136. The bullish rise stopped short of breaking the recently highlighted level. To draw in more investors, the price was lowered. Currently, Sponge is going toward the $0.000136 resistance level.
The price of sponge is currently above both the 9- and 21-period moving averages. The price of the cryptocurrency increased and remained above the two EMAs. Because the two EMAs are bending in the direction of price movement, it is obvious that the bulls are in charge of the market. Both the upward bending of the signal lines and the level of 44 for period 14 of the relative strength index indicate that the bulls are in charge of the market.
Although a correction is inevitable, Sponge is getting close to the $0.000136 resistance level, which the Bulls could break if they get more impetus. If the Bulls’ momentum wanes, the price may briefly consolidate.
SPONGEUSDTUSD Short-term Trend: Bullish
A short-term favorable trend is anticipated for SPONGEUSDT. The 4-hour chart shows that the Bulls are continuing to move forward. The earlier 9-period and 21-period EMA dynamic resistance levels were broken as a result of an increase in bullish momentum. The $0.000136 resistance level is currently within striking distance of the coin.
The coin is trading above the two EMAs as the 9-period EMA crosses the 21-period EMA higher. Relative Strength Index period 14 signal lines going upward offer a buy signal at level 9.
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— $SPONGE (@spongeoneth) October 13, 2023
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