Buyers are dominating the Sponge market
SPONGEUSDT Price Analysis – 05 February
If the bulls can break above the resistance level at $0.000892, they might get as high as $0.000996 and $0.001158. If the resistance level of $0.000892 holds, Sponge may turn around and go back to the support levels of $0.000797, $0.000580, and $0.000500.
Sponge/USD Market
Key levels:
Resistance levels: $0.000892, $0.000996, $0.001158
Support levels: $0.000697, $0.000580, $0.000500
SPONGEUSDT Long-term Trend: Bullish
The SPONGEUSDT daily chart shows bullishness. On January 24, the bulls’ fervor caused the price to reach its highest point of $0.001158. The price remained unchanged because of the identified resistance level. This implies that the previously mentioned level of the SPONGEUSDT market is important. Money was withdrawn last week to pull in new investors. The market moved and the bears took the lead of the market. If the current daily candle can close above the $0.000892 resistance level, buyers will dominate the market.
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Since the Hull suite indicator is above the price, it keeps displaying a rising trend. Given that the price is already trading much above the recommended barrier, it is obvious that it is rising. If the bulls can break above the resistance level at $0.000892, they might get as high as $0.000996 and $0.001158. If the resistance level of $0.000892 holds, the price may turn around and go back to the support levels of $0.000797, $0.000580, and $0.000500.
SPONGEUSDT Medium-term Trend: Bullish
The 4-hour SPONGEUSDT chart is rising. The price movement on the 4-hour chart has created a double bottom pattern close to the $0.000500 support level. The price rise after the initial breakup at $0.000557. To retest the broken level, the price is increasing. Price may breach the resistance level at $0.000886. Right now, the price is making an effort to break up the $0.000892 mark.
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The price is higher than Hull Suite indicator is higher than the current price according to the Crypto signal. The blue signal line signifies a buy when the QQE MOD is above the zero level.
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Important Information 🌟
The exchanges are getting ready to transition from $SPONGE V1 to V2!
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1️⃣ @bitgetglobal
👉https://t.co/by2YqzvyUp2️⃣ @Mex
👉 https://t.co/dMbCUvVuG7#SpongeV2 #Crypto #Web3 #Altcoins #MemeCoin pic.twitter.com/hHSWtAurPJ— $SPONGE (@spongeoneth) February 5, 2024
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