Sponge (SPONGEUSDT) Price: Bulls May Continue to Control Market

The price is currently rising and remaining stable

SPONGEUSDT Price Analysis – 07 August

The breakup of $0.000136 level may increase the price to $0.000196 and $0.000330 levels.  In case the bears defend the resistance level of $0.000136, Sponge may reverse and face the support levels of $0.000093, $0.000006 and $0.000004

Key Levels:

Supply level: $0.000136, $0.000196, $0.000330

Demand level: $0.000093, $0.000006, $0.000004

SPONGEUSDT Long-term trend: Bullish

SPONGEUSDT is bullish on the daily chart. The sellers dominate the SPONGE/USDT market for more than two weeks. The bearish movement pushed the price to test the support level of $0.000093 just to create an opportunity for more buyers. A bullish engulfing candle formed at the mentioned level, Sponge increased and may test and break the resistance level of $0.000136. The price is inclining at the moment.

SPONGEUSDT is trading close to the 9 periods EMA and the 21-period EMA which indicates a bullish market.  The relative strength index period 14 is at 67 levels with the signal lines pointing upside to indicate buy signal. The breakup of $0.000136 level may increase the price to $0.000196 and $0.000330 levels.  In case the bears defend the resistance level of $0.000136, the price may reverse and face the support levels of $0.000093, $0.000006 and $0.000004.

SPONGEUSDT Medium-term Trend: Bullish

SPONGEUSDT is on the bullish movement in the medium-term outlook. The crypto was ranging within the resistance level of $0.000136 and $0.000093 levels last week. The bulls’ momentum increases and it is pushing the price to the dynamic resistance levels. It seems the buyers’ pressure is increasing towards the resistance level of $0.000137.

Today, the bulls are dominating the market and the price is trading slightly above the 9 periods EMA and 21-period EMA as an indication of a bullish market. However, the relative strength index period 14 is at 67 levels pointing upside to indicate a buy signal.

They have witnessed some things.

They’ve seen some things… 👀🤣 pic.twitter.com/qOxxk4paAh

— $SPONGE (@spongeoneth) August 7, 2023

Invest in the hottest and best meme coin? Buy Sponge ($SPONGE) today!