SPONGE (SPONGEUSDT) Price May Penetrate Resistance Level of $0.000136

Bulls’ pressure increases

SPONGE (SPONGEUSDT) Price Analysis – 04 October

Sponge is heading towards the resistance level of $0.000136 and the level may be penetrated in case the Bulls increase their momentum, however, pullback is inevitable. Should the Bulls’ momentum become weak, the price may consolidate for short period

Price Level:

Resistance Level: $0.000136, $0.000196, $0.000330

Support Level: $0.000081, $0.000006, $0.000004

SPONGEUSDT Long-Term Trend: Bullish

Sponge price is bullish on the medium-term outlook. The Sponge was bearish last week. The support level of $0.000081 was touched and the market closed below the mentioned level. On 07 August, Sponge broke up the confluence at the resistance level of $0.000136 and rallied towards the resistance level of $0.000196. The just-mentioned level could not be broken up by the bullish pressure. The price declined to attract more investors. Currently, it is heading towards the resistance level of $0.000136.

The crypto increased its momentum and maintains the trade above the two EMAs; that is the coin is trading above 21 periods EMA and 50 periods EMA, the two EMAs are bending towards the direction of the price action, which indicates that the Bulls are controlling the market. However, the relative strength index period 14 is at 49 levels and the signal lines bending up to indicate that the Bulls are in control of the market.

Sponge is heading towards the resistance level of $0.000136 and the level may be penetrated in case the Bulls increase their momentum, however, a pullback is inevitable. Should the Bulls’ momentum become weak, the price may consolidate for a short period.

SPONGEUSDTUSD Short-term Trend: Bullish

SPONGEUSDTUSD is Bullish on the short-term outlook. The Bulls maintain their momentum on the 4-hour chart. An increase in the Bulls’ momentum has led to the breakup of the former dynamic resistance levels of 9 periods and 21 periods EMA. Crypto is currently experiencing sideways movement towards the resistance level of $0.000136.

The 9-period EMA is crossing the 21-period EMA upside and the coin is trading above the two EMAs. The Relative Strength Index period 14 is at 40 levels with the signal lines pointing down to indicate a sell signal.

Don’t let the opportunity pass you by; trade $SPONGE on @bitgetglobal!

🧽 Don't let it slip through your fingers and trade $SPONGE on @bitgetglobal! 💫💰

🧽 Immerse yourself in the enchanting world of this extraordinary #MemeCoin, which absorbs all the damp! 💧🚀

🔗 https://t.co/MJeXwwpkPT

⏳ Act quickly, Season 1 is nearing the end!🎉 pic.twitter.com/o9useN0aQv

— $SPONGE (@spongeoneth) October 3, 2023

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