Sponge (SPONGEUSDT) Will Shortly Start Trading Above $0.000136 Level

Buyers will take over Sponge market soon

SPONGEUSDT Price Analysis – 20 September

When bulls are able to hold onto the $0.000087 support level, Sponge will rise and top the $0.000136, $0.000196, and $0.000330 resistance levels. The $0.000006 and $0.000004 levels may be approached by the bears if they break through the $0.000087 support.

Key Levels:

Supply level: $0.000136, $0.000196, $0.000330

Demand level: $0.000087, $0.000006, $0.000004

SPONGEUSDT Medium-term Trend: Bullish

Every day, the buying fervor gets stronger. Prices are rising because bulls currently have more power.  On July 27, the price was compelled by the bearish trend to test the $0.000087 support level. In an effort to maintain the right level of assistance, it moved back. The price fell the following day as a result of increased seller pressure, hitting a low of $0.000087. The price surged through the $0.000136 mark on September 6. Due to pressure from the sellers, it withdrew. The sponge will likely rise higher as more bullish candles form and might even surpass its record high of $0.000196.

To demonstrate that bulls are currently in charge of the sponge market, the sponge will shortly start trading above both the 9-period EMA and the 21-period EMA. As long as the bulls are able to hold onto the $0.000087 support level, the price will rise and top the $0.000136, $0.000196, and $0.000330 resistance levels. The $0.000006 and $0.000004 levels may be approached by the bears if they break through the $0.000087 support.

SPONGEUSDT Medium-term Trend: Bullish

The price of SPONGEUSDT is rising on the 4-hour chart. The sponge is rising from its support level of $0.000087 as new bullish candles grow. The resistance level of $0.000136 will be broken due to buyer interest in the sponge market. The $0.000196 barrier level may be reached by the price as a result of increasing positive pressure.

Both the 21- and 9-period EMAs are below the current price. Level 30 on the signal line for the 14th period of the Relative Strength Index provides a favorable signal.

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— $SPONGE (@spongeoneth) September 19, 2023

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