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SPONGEUSDT Price Analysis – 31 January
The bulls may get as high as $0.000886 and $0.001298 if they can break above the resistance level at $0.000695. Sponge may reverse and return to the support levels of $0.000575, $0.000458, and $0.000404 if the resistance level of $0.000695 prevails.
Sponge/USD Market
Key levels:
Resistance levels: $0.000695, $0.000886, $0.001298
Support levels: $0.000575, $0.000458, $0.000404
SPONGEUSDT Long-term Trend: Bullish
The daily SPONGEUSDT chart is bullish. Two weeks ago, the price peaked at $0.001158 due to the passion of the bulls. The price hasn’t moved because of the resistance level that was found. This suggests that the SPONGEUSDT market’s previously indicated level is significant. It currently takes money out to attract new investors. If the current daily candle closes below the $0.000575 support level, the market can move and the bears might seize the lead.
The Hull suite indicator continues to show a rising trend because it is above the price. The price will rise because it is now trading much over the suggested threshold. The bulls may get as high as $0.000886 and $0.001298 if they can break above the resistance level at $0.000695. The price may reverse and return to the support levels of $0.000575, $0.000458, and $0.000404 if the resistance level of $0.000695 prevails.
SPONGEUSDT Medium-term Trend: Bullish
SPONGEUSDT 4-hour chart is climbing. Near the $0.001298 resistance level, the price movement on the 4-hour chart has produced a double-top pattern. Following the initial breakdown at $0.000886, the price dropped. To retest the broken level, the price pulled back. Price fell in an attempt to breach the support level at $0.000575, following the second loss at $0.000695. Right now, the price is making an effort to retest the $0.000575 mark as a bearish signal.
The current price is lower than the Hull Suite indicator. When the QQE MOD falls below zero, the red signal line indicates a sell.
Please note that the $SPONGE V1 will no longer be available.
🚨 Important project update! 🚨
Due to a malicious attack on the Sponge V1 token, we’ll be moving all holders to Sponge V2 on the 5th of February at 11:00 PM UTC.
Please be aware the $SPONGE V1 will be discontinued.
We strongly advise all holders to withdraw their tokens from… pic.twitter.com/itZelxAL9V
— $SPONGE (@spongeoneth) January 31, 2024
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