Sponge (SPONGEUSDT) Price: Buyers Are Picking Up Speed

Buyers are pushing harder to reach the $0.000136 mark

SPONGE (SPONGEUSDT) Price Analysis – 19 October

When the $0.000081 level holds, the resistance levels of $0.000136, $0.000330, and $1,786 might be the next objectives. If the $0.000081 support level is broken on the downside, support levels of $0.000006 and $0.000004 can be put to the test.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000136, $0.000196, $$0.000330

Support levels: $0.000081, $0.000006, $0.000004

SPONGEUSDT Long-term Trend: Bullish

Sponge sees things positively in the long term. Sponge prices increase in tandem with customer pressure. The resistance level of $0.000136 failed to hold on September 6.  The amount of daily bullish candles increased. The price broke through a crucial key level at $0.000136. The price oscillated between the identified resistance levels last week. Towards the end of the week, sellers increased their pressure and broke the level in an attempt to entice more investors. At this point, buyers are pushing harder and trying to reach the $0.000136 mark. Customers aren’t yet fatigued.

 

Positive activity in the Sponge market is indicated by the two EMAs sloping northward and the price trading above the 21- and 9-period EMAs. If the $0.000081 level holds, the resistance levels of $0.000136, $0.000330, and $1,786 might be the next objectives. If the $0.000081 support level is broken on the downside, support levels of $0.000006 and $0.000004 can be put to the test.

SPONGEUSDT Medium-term Trend: Bullish

The 4-hour chart of Sponge shows a bullish tendency. The sellers’ interruption failed to trigger a bearish reversal in the market. It seems that the bulls have not yet released all of their pressure at the previously noted resistance level. Strong bullish candles emerged on October 14, suggesting that buyers are picking up speed. The price will increase over the $0.000136 barrier and move in the direction of $0.000196.

The coin is trading above both EMAs indicating that buyers’ momentum is likely stronger. At 34 levels, the Relative Strength Index period 14 signal line is trending upward, indicating a buy signal.

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