SPONGE (SPONGEUSDT) Price Is Rising Toward Previous High at $0.000886
Login

SPONGE (SPONGEUSDT) Price Is Rising Toward Previous High at $0.000886

Estimated Reading Time: 3 minutes

Azeez Mustapha

Updated:

Buyers’ pressure increase

Sponge Price Analysis – 16 January

As long sponge breaks over the $0.000886 barrier level and encounters resistance levels at $0.00100 and $0.00115, the bulls might be able to maintain their dominant position in the market. Should the $0.000886 level prove to be unbreakable, the price might drop down to the $0.000695, $0.000577, and $0.000498 support levels.

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

On the daily chart, SPONGEUSDT is bullish. The triple bottom chart pattern, which was created at the $0.000356 support level, affects the bulls. This is what sets off the coin’s eagle-like ascent towards the north. The price broke through the previous resistance levels of $0.000498, $0.000577, and $0.000695, rising to the high of the $0.000886 resistance level. To retest the broken level of $0.000577, it retreats. It is currently approaching the $0.000886 mark, which was the previous high.

Following the retreat, buyers are entering the SPONGE market once more. The price is trading above the Hull Suite signal, indicating a bullish trend, and the indicator is pointing upward. As long as Sponge breaks over the $0.000886 barrier level and encounters resistance levels at $0.00100 and $0.00115, the bulls might be able to maintain their dominant position in the market. Should the $0.000886 level prove to be unbreakable, the price might drop down to the $0.000695, $0.000577, and $0.000498 support levels.

SPONGEUSDT medium-term Trend: Bullish

SPONGEUSDT’s 4-hour chart shows bullishness. The medium-term trend remains bullish as pressure on the bulls builds steadily. Following the breakup of resistance levels like $0.000498, $0.000577, and $0.000695, the resistance level of $0.000886 is tested. The price is rising toward the previous high at $0.000886 and is holding the previously mentioned level.

The Hull Suite indicator, which shows a strong momentum market, is below the price. The market is positive as the currency pair is trading above the indicator. When the QQE MOD indicator is above zero, a purchase signal is shown.

Did you miss the previous 100 times? You have another chance from us!

Invest in the hottest and best meme coin. Buy Sponge ($SPONGE) today

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News