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Sponge Bounces up at $0.000081 level
SPONGEUSDT Price Analysis – 03 October
When the bulls hold onto the $0.000081 support level, price will rise and surpass the $0.000136, $0.000196, and $0.000330 resistance levels. The $0.000006 and $0.000004 levels may be reached by the bears if they are able to break through the $0.000087 support.
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000081, $0.000006, $0.000004
SPONGEUSDT Medium-term Trend: Bullish
The bulls are pressing harder every day. Sponge is rising as more bullish candles form and may perhaps surpass the $0.000136 barrier. Prices are currently rising as bull power grows. Sponge was compelled to test the $0.000081 support level due to the most recent bearish trend. In an effort to maintain the proper amount of support, it withdrew. The price dropped the next day to a low of $0.000081 due to strong selling pressure, which is enticing more buyers. Bulls are currently in control of the market.
Bulls are currently driving the sponge market higher, and sponge is trading above both the 9-period and the 21-period exponential moving averages. When the bulls hold onto the $0.000081 support level, price will rise and surpass the $0.000136, $0.000196, and $0.000330 resistance levels. The $0.000006 and $0.000004 levels may be reached by the bears if they are able to break through the $0.000087 support.
SPONGEUSDT Medium-term Trend: Bullish
The price of SPONGEUSDT is rising on the 4-hour chart. As additional bullish candles continue to form from its support level of $0.000081, the Coin is climbing. The sponge market’s demand from buyers will cause the resistance level of $0.000136 to be broken. If bullish pressure builds, the $0.000196 barrier level may be broken through.
The 9 and 21 period EMAs are currently being crossed by the price. The 14-period signal line for the Relative Strength Index indicating a purchase at level 57.
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— $SPONGE (@spongeoneth) September 22, 2023
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