SPONGEUSDT Price: Formation of a Bearish Reversal Pattern at $0.00026 level

Azeez Mustapha

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Buyers’ momentum increase

SPONGEUSDT Price Analysis – 20 June

The breakdown of the dynamic resistance levels will cause the coin to hit the $0.00061 resistance level; additional bull pressure build-up will push the SPONGEUSDT price to levels $0.00077 and $0.00087. Bearish momentum may spread to the $0.00050, $0.00033, and $0.00026 support levels if the price advance is met with resistance at the $0.00061 resistance level.

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 has been under bullish pressure for the last two weeks. The price has been oscillating between the levels of $0.00026 and $0.00033. The coin was first driven to test the $0.00026 support level on May 5 by the bears. It retreated to retest the sluggish dynamic resistance level of Hull Suite after failing to go past the level. It reverses to attempt the $0.00026 support level once more on May 8. The level rejected further price cuts. In keeping with the circumstances, more bullish daily candles are forming, and the price is gradually moving higher toward the $0.00061 price level.

SPONGEUSDT Price: Formation of a Bearish Reversal Pattern at $0.00026 level

The fact that the cryptocurrency is currently breaking above the dynamic resistance level and trading around the Hull Suite forex signals indicator indicates that the bulls are gradually gaining ground in the SPONGEUSDT market. The breakdown of the dynamic resistance levels will cause the coin to hit the $0.00061 resistance level; additional bull pressure build-up will push the SPONGEUSDT price to levels $0.00077 and $0.00087. Bearish momentum may spread to the $0.00050, $0.00033, and $0.00026 support levels if the price advance is met with resistance at the $0.00061 resistance level.

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SPONGEUSDT Medium-term Trend – Bullish

The medium-term picture indicates that buyers are taking the SPONGEUSDT Market by storm. The price action formed a bullish reversal pattern at the $0.00026 price level, which is referred to as a “double bottom” chart pattern. The price of SPONGEUSDT is expected to grow to $0.00061. From there, it may continue to rise to $0.00077 and $0.00087 price points.

SPONGEUSDT Price: Formation of a Bearish Reversal Pattern at $0.00026 level

The coin is crossing the indication of the Hull Suite crypto signals. Conversely, when its histogram is above zero, the QQE MOD signals a buy.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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