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An increase in buyers’ pressure
SPONGE (SPONGEUSDT) Price Analysis – 08 November
If the $0.000136 level is held in Sponge market, the resistance levels of $0.000196, $0.000330, and $0.000402 may be the next targets. If the $0.000136 support level is broken below, support levels at $0.000081 and $0.000006 may be examined.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000196, $0.000330, $0.000402
Support levels: $0.000136, $0.000081, $0.000006
SPONGEUSDT Long-term Trend: Bullish
Sponge is optimistic about the future. The price of the sponge broke above the $0.000136 resistance level last week because of the daily surge in consumer demand. The new aim is $0.000196 because price increases and customer demand are closely related. The number of bullish candles rose daily. The price smashed past a significant barrier at $0.000136. Over the past two weeks, the price has fluctuated both inside and outside of the stated resistance levels. These days, purchasers are applying more and more pressure to the coin in an attempt to attract more investors. Customers are currently requesting an increase in pricing to $0.000196.
The sponge’s 9- and 21-period moving averages (EMAs) are crossing, and the two EMAs that slope northward suggest that trading is bullish. If the $0.000136 level is held, the resistance levels of $0.000196, $0.000330, and $0.000402 may be the next targets. If the $0.000136 support level is broken below, support levels at $0.000081 and $0.000006 may be examined.
SPONGEUSDT Medium-term Trend: Bullish
Sponge’s 4-hour chart displays a bullish trend. The $0.000136 resistance level has been breached by the bulls. The sellers’ actions had no adverse effect on the market. Today’s strong bullish candles indicate that buyers are acting faster. Very soon, the price will increase to $0.000330.
Given that the coin is trading above both EMAs, there is probably additional buying momentum. A purchase signal is shown by the period 14 signal line of the Relative Strength Index, which rises at 31.
The distribution of the $SPONGE airdrop has concluded.
🚨 Exciting news, #SPONGERS! 🧽
The $SPONGE Airdrop distribution is now complete! https://t.co/iMAdfg9SiS
Check your wallets to see if you've made a splash as one of the recipients! 🌊💰#SPONGE #MemeCoin #Airdrop pic.twitter.com/yw7RKVtcg9
— $SPONGE (@spongeoneth) November 7, 2023
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