The price is heading higher
Sponge Price Analysis – 17 January
The bears may be able to hold onto their lead in the market as long as the price breaks over the $0.000886 barrier level and runs into resistance at $0.00100 and $0.00115. If the $0.000886 level holds, there is a chance that Sponge will fall to the support levels of $0.000695, $0.000577, and $0.000498.
Sponge/USD Market
Key levels:
Resistance levels: $0.000886, $0.00100, $0.00115
Support levels: $0.000695, $0.000577, $0.000498
SPONGEUSDT Long-term Trend: Bullish
SPONGEUSDT daily chart shows bullishness. Bulls are impacted by the triple bottom chart pattern, which was formed at the $0.000356 support level. The coin’s eagle-like rise towards the north is triggered by this. The price surged to the high of the $0.000886 resistance level after breaking past the prior resistance levels of $0.000498, $0.000577, and $0.000695. It retreats to retest the broken level of $0.000577. It’s getting close to the previous high, which was $0.000886, at this point.
Buyers are reentering the SPONGE market after the retreat. The indicator is heading higher and the price is trading above the Hull Suite signal, indicating a bullish trend. The bears may be able to hold onto their lead in the market as long as the price breaks over the $0.000886 barrier level and runs into resistance at $0.00100 and $0.00115. If the $0.000886 level holds, there is a chance that the price will fall to the support levels of $0.000695, $0.000577, and $0.000498.
SPONGEUSDT medium-term Trend: Bullish
The 4-hour chart of SPONGEUSDT is positive. While pressure on the bulls continues to build, the medium-term trend is still favorable. The resistance level of $0.000886 is tested when resistance levels such as $0.000498, $0.000577, and $0.000695 fall apart. The price is maintaining the previously indicated level and is heading back toward the previous high of $0.000886.
The price is above the Hull Suite sign, which indicates a robust momentum market. Given that the currency pair is trading above the indication, the market is positive. A buy signal appears when the QQE MOD indicator is higher than zero.
At a value of $4,329,883.63, there are currently over 5,185,179,255 $SPONGE tokens staked!
Great news, #Spongers! 🧽🙌
There are now over 5,185,179,255 $SPONGE tokens staked with a value of $4,329,883.63!
Plus, our holders are enjoying an impressive current APY of +300%! 🚀
Join us and absorb the damp. 🧽🧽💦💦#SpongeV2 #Crypto #Web3 #Alts pic.twitter.com/MBvB3O2Ht3
— $SPONGE (@spongeoneth) January 17, 2024
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