Sponge Price: A Ranging Movement Between $0.000577 and $0.000400 Levels

Sideways movement in Sponge market

SPONGEUSDT Price Analysis – 09 April

A retreat is unavoidable in a trending market, although more price increases for Sponge are frequently anticipated. It is possible that the price barrier of $0.000577 will be broken if the bulls apply more pressure.

Key Levels:

Resistance levels: $0.000577, $0.000695, $0.000886

Support levels: $0.000500, $0.000455, $0.000400

SPONGEUSDT Long-term Trend: Bullish

The price of SPONGEUSDT is still moving in an upward trend over the long run. In the sponge market, the Bulls were the leading team. The peak of the bullish trend occurred on March 15 at $0.000577. The price crashed to $0.000455 when the Bears broke the uptrend. For nearly eight days, the coin moved sideways between $0.000455 and $0.000500, showing that the momentum of the bulls and bears is almost equal. A bullish candle can form and break through the $0.000577 supply barrier. The sponge market closed yesterday with a bearish candle on the daily chart, indicating that prices would decline.

The pricing technique used by Hull Suite Crypto signals indicates that the coin is trading above the indicator, indicating a strong positive momentum in the Sponge market. Likewise, when the histogram signal line is above the 0 level, the QEE MOD shows the buy signal. A retreat is unavoidable in a trending market, although more price increases for sponges are frequently anticipated. The price barrier of $0.000577 may be broken if the bulls apply more pressure.

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SPONGEUSDT Short-term Trend: bullish

Sponge finds hope in the intermediate future. For more than a week, Sponge was trading sideways between $0.000455 and $0.000500. The currency shot up into the $0.000577 price range on March 15th as the Bulls broke through the $0.000500 barrier. With the euphoria of the bulls waning, the price began to level out over $0.000500.

Sponge price is above the Hull Suite indicator, indicating a sharp upward trend. The QQE MOD indicator’s red signal line and level below zero indicate that the sponge market is still consolidating.

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