Buyers are exerting more pressure on the coin
SPONGE (SPONGEUSDT) Price Analysis – 06 November
In the Sponge market, if the $0.000136 level is held, the resistance levels of $0.000196, $0.000330, and $0.000402 may be the following objectives. If the $0.000136 support level is broken below, support levels at $0.000081 and $0.000006 may be examined.
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 is optimistic about the future. The price of the sponge crossed above the $0.000136 resistance level last week due to the daily surge in consumer demand. The new aim is $0.000196 because price increases and customer demand are strongly tied. There were more bullish candles every day. Sponge breached a significant barrier level at $0.000136. Over the past two weeks, the price has fluctuated both inside and outside of the stated resistance levels. These days, buyers are exerting more pressure on the coin to entice more investors. Customers are currently requesting that the price be raised to $0.000196.
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The sponge’s 9- and 21-period moving averages (EMAs) are crossing, and the two EMAs that slope northward suggest that trading is bullish. If the $0.000136 level is held, the resistance levels of $0.000196, $0.000330, and $0.000402 may be the following objectives. If the $0.000136 support level is broken below, support levels at $0.000081 and $0.000006 may be examined.
SPONGEUSDT Medium-term Trend: Bullish
Sponge’s 4-hour chart displays a bullish trend. The resistance level at $0.000136 has been breached by the bulls. The sellers’ actions had no adverse effect on the market. Today’s strong bullish candles indicate that buyers are acting faster. In the future, the price will increase to $0.000330 very soon.
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Given that the coin is trading above both EMAs, 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 28.
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— $SPONGE (@spongeoneth) November 3, 2023
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