Bulls are pressing hard
SPONGEUSDT Price Analysis – 16 May
The price may rise as far as $0.000400 and $0.000455, respectively, if the bulls are successful in breaking above the $0.000356 resistance mark. If the bulls are unable to hold onto their gains and break above the $0.000356 mark, the price of the SPONGEUSDT may see a bearish reversal and plunge below the support levels of $0.000309, $0.000250, and $0.000189.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000356, $0.000400, $0.000455
Support levels: $0.000309, $0.000250, $0.000189
SPONGEUSDT Long-term Trend: Bullish
The SPONGEUSDT is growing, as can be seen in the daily chart. The price is steadily increasing, and there are regular daily patterns of bullish candles. In the current market, buyers are pushing the price past $0.000309, where sellers are losing ground, and above the $0.000356 resistance level. If bulls maintain their present rate of pressure, they could surpass the predefined target. The buyers and sellers could reach a decision in less than two weeks.
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It appears to be accelerating because SPONGEUSDT is currently trading above the pricing mechanism of the Hull Suite Crypto signals. The price may rise as far as $0.000400 and $0.000455, respectively, if the bulls are successful in breaking above the $0.000356 resistance mark. If the bulls are unable to hold onto their gains and break above the $0.000356 mark, the price of the cryptocurrency may see a bearish reversal and plunge below the support levels of $0.000309, $0.000250, and $0.000189.
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SPONGEUSDT Medium-term Trend: Bullish
A rising trend is visible on the four-hour chart of the SPONGEUSDT. The bulls’ rise a few days earlier tested the $0.000455 barrier level. For days, the Bulls are unable to defeat the Bears. To retest the broken level, the price pulled back. Bullish pressure is currently pushing the price higher.
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The price is currently rising as a result of bullish pressure; the price will rise as long as it stays above the Hull Suite Crypto signaling indicator; the histogram line will indicate a positive price movement; and the QQE MOD Crypto signals will indicate a value spike greater than zero.
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