SPONGEUSDT Price Is Increasing as Target Price of $0.000136 Gets Closer

Bulls are dominating SPONGEUSDT market

SPONGEUSDT Price Analysis – 16 August

After a pullback, bulls can drive the price higher by breaking the $0.000136 resistance level, possibly reaching the $0.000196 and $0.000330 levels. If the bears are successful in holding the $0.000136 level, Sponge may reverse and hit the $0.000093, $0.000004, and $0.000006 support levels

Key Levels:

Supply level: $0.000136, $0.000196, $0.000330

Demand level: $0.000093, $0.000004, $0.000006

SPONGEUSDT Long-term Trend: Bullish

Sponge is bullish on the daily chart. On June 22, the coin found support at $0.000093. When the bullish morning star chart pattern appeared, the price climbed to challenge the resistance level of $0.000196. Price dropped and made contact with prior low support level. Bulls are currently heading northward while defending $0.000093 level.

After a pullback, bulls can drive the price higher by breaking the $0.000136 resistance level, possibly reaching the $0.000196 and $0.000330 levels. If the bears are successful in holding the $0.000136 level, the price may reverse and hit the $0.000093, $0.000004, and $0.000006 support levels. The 9-period exponential moving average is trying to cross the 21-period EMA upward in order to create bullish momentum because the two dynamic levels are so close to one another.

SPONGEUSDT Medium-term Trend: Bullish

Sponge is bullish on the 4-hour chart. The price is increasing as the target price of $0.000136 gets closer. Sponge was knocked down below the $0.000093 support level by the Bears. The $0.000136 resistance level was tested on August 8 as a result of the bulls’ resistance to the price decline. Further price increase is ongoing.

As SPONGEUSDT trades above the two EMAs and the 9-period EMA makes an attempt to cross the 21-period EMAs to the upside to produce a bullish momentum, the bulls’ momentum is steadily building. A purchase signal is being shown by a period 14 relative strength index that is bending up at level 44.

You discover that when you awaken.

When you wake up to see that…

The #Bitcoin price has gone to the moon!🌕💰🚀 pic.twitter.com/pd7YnjrPuq

— $SPONGE (@spongeoneth) August 18, 2023

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