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Buyers are increasing in Sponge market
SPONGE (SPONGEUSDT) Price Analysis – 10 November
The resistance levels of $0.000196, $0.000330, and $0.000402 can be the next targets for Sponge if the $0.000136 level is maintained. Support levels at $0.000081 and $0.000006 might be looked at if the $0.000136 support level is breached below.
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 has hope for the future. Due to the daily spike in consumer demand, the price of sponge broke above the $0.000136 resistance level last week. Given the strong correlation between price hikes and customer demand, the new target is $0.000196. Every day, the number of bullish candles increased. At $0.000136, the price broke through a key barrier. The price has moved inside and outside of the indicated resistance levels during the last two weeks. To draw in more investors, buyers are exerting increasing pressure on the coin these days. Right now, customers are asking for a price rise to $0.000196.
The two moving averages (EMAs) that slope northward indicate that trade is bullish, and the sponge’s 9- and 21-period EMAs are crossing. The resistance levels of $0.000196, $0.000330, and $0.000402 can be the next targets if the $0.000136 level is maintained. Support levels at $0.000081 and $0.000006 might be looked at if the $0.000136 support level is breached below.
SPONGEUSDT Medium-term Trend: Bullish
The 4-hour chart of Sponge shows a bullish trend. The bulls have broken through the $0.000136 resistance level. The sellers’ actions did not negatively impact the market. The robust bullish candles of today suggest that buyers are moving more quickly. The price will rise to $0.000330 very soon.
The coin is trading above both EMAs, so 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 71 level.
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— $SPONGE (@spongeoneth) November 7, 2023
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