Price of Sponge Could Continue to Rise
Sponge Price Analysis: 12 February
Sponge may rise toward the resistance levels of $0.000996 and $0.001158 if the buyers manage to break through the resistance level of $0.000886. In case the $0.000886 resistance level is held, the price may fall into the $0.000697, $0.000580, and $0.000500 support levels
Key Levels:
Resistance Levels: $0.000886, $0.000996, $0.001158
Support Levels: $0.000697, $0.000580, $0.000500
SPONGEUSDT Long-term Trend: Bullish
On the daily chart, Sponge is moving upward. A significant bearish momentum drove the currency to a low of $0.000500 on January 27. The price rose when the bulls successfully defended the $0.000500 support level, breaking the $0.000580, and $0.000697 resistance levels. On February 04, the $0.000886 resistance level was put to the test. On a trending market, the price is now pulling back as a phenomenon. This new week, the bulls might dominate the Sponge market.
The dynamic resistance level is being attempted by the Sponge price, which may soon begin trading above the Hull Suite. The price may rise toward the resistance levels of $0.000996 and $0.001158 if the buyers manage to break through the resistance level of $0.000886. In case the $0.000886 resistance level is held, the price may fall into the $0.000697, $0.000580, and $0.000500 support levels. The QQE MOD crypto signals indicator pointing downward and is below zero level.
SPONGEUSDT Price Medium-term Trend: Bullish
On the daily chart, Sponge is moving upward. When it approached the $0.000500 support level, the downward trend stalled. The price accelerated northward as the bulls got greater traction. The $0.000697 resistance level was put to the test and the upside broke through the $0.000697 resistance barrier. The price inclines to reach the $0.001158 resistance level. Following the reversal, the bullish movement can continue.
The price is currently slightly above both the Hull Suite indicator , indicating bullish momentum in the Sponge market. The QQE MOD is going up at level above zero, which is a buy signal.
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