SPONGEUSDT Price Is Aiming at $0.000886 Resistance Level

Buyers’ strength  doubled Sponge market

SPONGEUSDT Price Analysis – 16 January

If the bulls break through the $0.000886 resistance level, they could rise as far as $0.00100 and $0.00115. If the resistance level of $0.000886 holds, Sponge can invert and move lower toward the support levels of $0.000695, $0.000577, and $0.00115.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000886, $0.00100, $0.00115

Support levels: $0.000695, $0.000577, $0.000498

SPONGEUSDT Long-term Trend: Bullish

On the daily chart, SPONGEUSDT is bullish. The price reached a high of $0.000886 due to the bulls’ momentum. Sponge has been placed on hold due to the resistance level stated. This indicates that the level in question is important in the SPONGEUSDT market. The price may turn around and the bears may seize control of the market if the current daily candle ends up forming an inverted Pin bar.

The fact that the Hull suite indicator is still below the price indicates an upward trend. The price is trading distantly above the indicated indicator, indicating a strong bullish trend. If the bulls break through the $0.000886 resistance level, they could rise as far as $0.00100 and $0.00115. If the resistance level of $0.000886 holds, the price can invert and move lower toward the support levels of $0.000695, $0.000577, and $0.00115.

SPONGEUSDT Medium-term Trend: Bullish

On the 4-hour chart, SPONGEUSDT is moving positively. At the $0.000498 support level, the price action on the 4-hour chart has created a double-bottom chart pattern. The price went higher after the initial breakup at the $0.000557 mark. To retest the broken level, the price pulled back. The price rose to challenge the $0.000886 level following the second breakup at $0.000695. Right now, the price is aiming at the previous high level.

The Hull Suite indicator is being traded above by the price. The buy signal is indicated by the green signal line when the QQE MOD is above the zero level.

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