SPONGEUSDT Price: Double Bottom Chart Pattern, An Increase Envisaged

Bulls are taken over SPONGEUSDT market gradually

SPONGEUSDT Price Analysis – 27 June

The breakup of the dynamic resistance levels will push SPONGEUSDT to the $0.00061 resistance level; further increase in the bulls’ pressure will place the SPONGEUSDT price to $0.00077 and $0.00087 levels. In case the $0.00061 resistance level rejects the increase in price, bearish momentum may continue to $0.00050, $0.00033, and $0.00026 support levels.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.00061, $0.00077, $0.00087

Support levels: $0.00050, $0.00033, $0.00026

SPONGEUSDT Long-term Trend – Bullish

SPONGEUSDT was under the bearish pressure last two weeks. The price has been oscillating within the $0.00033 price level and $0.00026 price levels. The bears pushed the coin to test the support level of $0.00026 at first on 05 May. It pulled back to retest the slow dynamic resistance Hull Suite but could not push through the level. It reverses to test the support level of $0.00026 second time on 08 May. The level rejected a further price decrease. Followed the scenario is the formation of more daily bullish candles; the price is gradually increasing towards the $0.00061 price level.

The crypto is breaking up the dynamic resistance level at moment, trading around the Hull Suite forex signals indicator, which indicates that the bulls are taking over the SPONGEUSDT market gradually. The breakup of the dynamic resistance levels will push the coin to the $0.00061 resistance level; further increase in the bulls’ pressure will place the SPONGEUSDT price to $0.00077 and $0.00087 levels. In case the $0.00061 resistance level rejects the increase in price, bearish momentum may continue to $0.00050, $0.00033, and $0.00026 support levels.

SPONGEUSDT Medium-term Trend – Bullish

On the medium-term outlook, the buyers are taking over the SPONGEUSDT Market gradually. The price action has formed a “double bottom” chart pattern; this is a bullish reversal pattern formed at the $0.00026 price level. There is a high possibility that the SPONGEUSDT price will increase to the $0.00061 level in which it may continue increasing towards the $0.00077 and $0.00087 price levels.

The Crypto is trading above the Hull Suite crypto signals indicator. However, the QQE MOD with its histogram above zero level to indicate a buy signal.

Greetings on Monday, friends!

Happy Monday, frens! 🧽💦$SPONGE #MemeCoins #SpongeV2 pic.twitter.com/8fQQA2q9lB

— $SPONGE (@spongeoneth) June 17, 2024

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