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Bullish momentum will soon increase in Sponge market
SPONGEUSDT Price Analysis – 05 March
After the price pullback, a further gain in the SPONGEUSDT price is anticipated, assuming the currency breaks above the resistance level of $0.000301. The levels at $0.000328 and $0.000356 will be the next growth targets. Price can drop to the support levels of $0.000248, $0.000190, and $0.000143 if the bears continue to hold the resistance level at $0.000301
Key levels:
Supply levels: $0.000301, $0.000328, $0.000356
Demand levels: $0.000248, $0.000190, $0.000143
SPONGEUSDT Long-term Trend: Bullish
The long-term outlook for SPONGEUSDT is good. Seller pressure on the SPONGEUSDT market persists even after the cryptocurrency achieved support last week around the $0.000143 level. Cryptocurrency prices have recovered and are currently heading toward the $0.000301 barrier. Additional bullish daily candles emerged, and the previously indicated level was breached higher. Bulls are opposing sellers in the Sponge market and that is why it is pulling back.
The close proximity of the price above the Hull Suite Crypto signal suggests that the momentum of the bulls is increasing. Additionally, there’s a possibility that the QQE MOD Crypto signals will increase above zero. After the price pullback, a further gain in the SPONGEUSDT price is anticipated, assuming the currency breaks above the resistance level of $0.000301. The levels at $0.000328 and $0.000356 will be the next growth targets. Price can drop to the support levels of $0.000248, $0.000190, and $0.000143 if the bears continue to hold the resistance level at $0.000301.
SPONGEUSDT Medium-term Trend: Bullish
When considering things from a medium-term perspective, SPONGEUSDT is helpful. During the previous week, buyers outnumbered sellers at the $0.000143 support level. The price rises through the resistance levels of $0.000190 and $0.000248. The aim is the resistance level of $0.000301. The price crosses over and stays above the level that was previously indicated. Bulls are currently reentering the market, and further price increases may happen.
The price has surpassed the Hull Suite signal. A purchase is indicated by an upward-pointing histogram line in the QQE MOD.
👁️🧽👁️ h pic.twitter.com/xWJkrFHDhT
— $SPONGE (@spongeoneth) March 5, 2024
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