SPONGE (SPONGEUSDT) Price: Resistance Level of $0.000136 Will Be Broken Soon

Buyers are in control of the Sponge market

SPONGE (SPONGEUSDT) Price Analysis – 06 October

Sponge is moving toward the $0.000136 resistance level, which could be broken if the Bulls gain more traction, but a retreat is unavoidable. If the momentum of the Bulls deteriorates, the price may briefly consolidate.

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 upbeat in the long term. The Sponge was bearish last week. After touching the $0.000081 support level, the market ended below the indicated level. On August 7, the price of the sponge broke the confluence at the resistance level of $0.000136, after which it surged in the direction of $0.000196. The level that was just highlighted was not successfully crossed by the bullish surge. Price reduction in order to attract more investors. Currently, Sponge is heading in the direction of the $0.000136 resistance level.

The cryptocurrency is currently trading above the 21-period and 9-period moving averages. The cryptocurrency gained traction and maintained trading above the two EMAs. It is clear that the bulls are in control of the market because the two EMAs are bending in the direction of price movement. The Bulls are in control of the market, as seen by the signal lines’ upward bending and the relative strength index period 14’s level of 54.

The $0.000136 resistance level is being approached by Sponge, which might be broken if the Bulls get more momentum, although a retreat is certain. The price may briefly consolidate if the Bulls’ impetus declines.

SPONGEUSDTUSD Short-term Trend: Bullish

SPONGEUSDTUSD predicts a bullish short-term trend. The Bulls continue to advance on the 4-hour chart. An increase in the bulls’ momentum led to the previous 9-period and 21-period EMA dynamic resistance levels being broken. The cryptocurrency is currently heading in the direction of the resistance level of $0.000136.

As the 9-period EMA crosses the 21-period EMA upward, the coin is trading above the two EMAs. The upward-pointing signal lines on the Relative Strength Index period 14 indicate a purchase signal at 57 levels.

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— $SPONGE (@spongeoneth) October 6, 2023

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