Bulls will take over Sponge market soon
SPONGEUSDT Price Analysis – 27 February
If the $0.000358 resistance level persists, Sponge can reverse and move toward the $0.000252 support level. Should bear pressure intensify, the price might drop as low as the $0.000195 and $0.000148 levels.
SPONGE/USD Market
Key levels:
Resistance levels: $0.000358, $0.000457, $0.000582
Support levels: $0.000252, $0.000195, $0.000148
SPONGEUSDT Long-term trend: Bullish
With time, SPONGEUSDT appears to have a bright future. The pink market has been steadily supported by bulls since January 5, when the price movement of SPONGEUSDT broke out of the $0.000148 level. Every day, large, robust bullish candles are made. The bullish movement was started by the bullish engulfing candle. The previous resistance levels of $0.000148, $0.000195, and $0.000252 were breached by the price as it increased over $0.000252.
The price trading below the Hull Suite at the near contact and the Hull Suite being close to the price both point to strong bullish momentum. Price will cross over the $0.000358 resistance level, as well as the $0.000457 and $0.000582 barrier levels, if the bulls’ momentum continues to build. If the $0.000358 resistance level persists, the price can reverse and move toward the $0.000252 support level. Should bear pressure intensify, the price might drop as low as the $0.000195 and $0.000148 levels. A buy signal is shown by the QQE MOD, which is pointing upward above zero levels.
Reasons for $SPONGE Coin’s Explosion
SPONGEUSDT medium-term Trend: Bullish
Regarding the medium-range forecast, SPONGEUSDT is performing admirably. As is customary in a moving market, the bulls propelled the coin higher, breaking through $0.000148 and up to the resistance level of $0.000358, before it started to drop. The coin surges above the assigned level after breaking through the $0.000252 barrier.
The fact that the coin is trading above the Hull Suite Crypto signals indicator suggests that the bulls have a lot of momentum. A strong purchase signal is produced by the QQE MOD being above zero levels and the upward-pointing histogram line.
Not prepared for $SPONGE
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— $SPONGE (@spongeoneth) February 27, 2024
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