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SPONGEUSDT Price Analysis – 29 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
On the daily chart, SPONGEUSDT is bullish. Due to the bulls’ enthusiasm, the price achieved its maximum peak of $0.001158. The resistance level that was discovered has kept the price stagnant. This suggests that the SPONGEUSDT market‘s previously mentioned level is significant. It currently makes withdrawals to attract new investors. If the current daily candle can close below the $0.000575 support level, the market can move and the bears could take the lead.
The Hull suite indicator continues to show a rising trend because it is above the price. The price will rise, as it is currently trading far 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
The SPONGEUSDT 4-hour chart is climbing. Near the $0.001298 resistance level, the price action on the 4-hour chart has formed a double-top pattern. Following the initial breakup at $0.000886, the price decreased. The price retreated to retest the broken level. After the second decline at $0.000695, the price decreased to break through the support level at $0.000575. The price is currently attempting to retest the $0.000458 level.
The present price is less than the Hull Suite indicator. When the QQE MOD is lower than the zero level, the red signal line indicates sale.
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— $SPONGE (@spongeoneth) January 29, 2024
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