Buyers will oppose sellers soon
Sponge Price Analysis – 25 January
If the Sponge breaks above the $0.000695 barrier level and encounters resistance in the $0.000886 to $0.001298 range, the bulls might be able to maintain their advantage in the market. The price may drop to the support levels of $0.000695 and $0.000577 if the $0.000886 level is not maintained.
Sponge/USD Market
Key levels:
Resistance levels: $0.000695, $0.000886, $0.001298
Support levels: $0.000886, $0.000695, $0.000577
SPONGEUSDT Long-term Trend: Bullish
Bullish on the daily SPONGEUSDT chart. The triple bottom chart pattern, which appeared at the $0.000356 support level, calls for caution from bears. The money consequently soars northward like an eagle. Before soaring over the $0.001298 barrier, price broke past the previous resistance levels of $0.000886, $0.000998, and $0.001158. It pulls back, hoping to hit the shattered $0.000886 level again. Right now, it’s approaching $0.000886—the previous low.
Buyers might start to reenter the SPONGE market after the dip. A bullish trend is indicated by the indicator’s upward trajectory and the price’s trading above the Hull Suite signal. If the price breaks above the $0.000695 barrier level and encounters resistance in the $0.000886 to $0.001298 range, the bulls might be able to maintain their advantage in the market. The price may drop to the support levels of $0.000695 and $0.000577 if the $0.000886 level is not maintained.
SPONGEUSDT medium-term Trend: Bullish
On the 4-hour SPONGEUSDT chart, there is an upward trend. The medium-term trend remains strong, despite mounting pressure on the bears. When resistance levels like $0.000695, , and $0.000886 crumble, the $0.001298 resistance level is put to the test. The price is staying at the previously reported level and is moving back toward the previous low of $0.000886.
Given that the price is over the Hull Suite signal, it appears that the market is moving quickly. The market is favorable because the Crypto is trading above the indicator. When the QQE MOD indicator is greater than zero, a purchase signal is displayed.
Greetings from the $SPONGE family.
Welcome to the $SPONGE family 🧽
You’re one of us now… 💦$SPONGE #SpongeV2 #Presale #Bullish #Crypto #Altcoins pic.twitter.com/mwwVQ7C7ZW
— $SPONGE (@spongeoneth) January 25, 2024
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