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Buyers were able to stop the negative trend at $0.000087 level
SPONGEUSDT Price Analysis – 01 September
Sponge may advance toward the $0.000136 resistance level, which is followed by the levels of $0.000196 and $0.000330 if more buyers enter the market this week.
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000087, $0.000006, $0.000004
SPONGEUSDT Medium-term Trend: Bullish
Buyers of SPONGEUSDT were able to significantly push the price beyond the $0.000136 ceiling during the course of the past four weeks. The price is currently going in the direction of the last high, which was $0.000136. The price moved in the direction of the $0.000196 resistance level as a result of the upward push. Strong bearish candles that formed caused the price to fall. The $0.000087 support level served as the pivot point for the price’s subsequent turn. The buyers were able to stop the negative trend at the support level of $0.000087.
On the daily chart, a pin bar candle pattern developed, which indicates that the price may rise over the course of the coming trading days. On the daily chart, Sponge will begin trading just above the two exponential moving averages (EMAs) since the signal lines are rising north and the relative strength index period 14 is at 42 levels.
SPONGEUSDT Price Medium-term Trend: Bullish
SPONGEUSDT on the medium term is bullish. The coin challenged the $0.000196 level of resistance after passing the dynamic resistance level from the previous week. The bulls are currently gaining strength and pace, driving the price above the $0.000136 support level.
Sponge may advance toward the $0.000136 resistance level, which is followed by the levels of $0.000196 and $0.000330 if more buyers enter the market this week. The relative strength index’s Period 14 is very near Period 32. The signal lines pointing north imply a possible price hike.
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