Price will shortly return to its prior peak
SPONGEUSDT Price Analysis – 22 September
The $0.000196 and $0.000330 ranges, that are projected to seem after the market droop, are the Sponge’s subsequent upward targets, presuming it’s profitable in breaking above the $0.000136 degree of resistance. If the bears are profitable in holding the resistance degree of $0.000136, the value could go beneath the help ranges of $0.000087.
Key Levels:
Supply degree: $0.000136, $0.000196, $0.000330
Demand degree: $0.000087, $0.000004, $0.000006
SPONGEUSDT Long-term Trend: Bullish
The long-term prospects for the SPONGEUSDT are promising. Sponge’s worth discovered help a number of weeks in the past when it fell to $0.000087. However, sellers continued to drive the SPONGEUSDT market decrease through the previous month. Recently, the coin’s worth exceeded $0.000136. More bullish than bearish every day candles had been starting to seem, and the extent of $0.000136 was about to be crossed. On September 6, the price briefly rose and peaked at $0.000196 earlier than falling. The worth will shortly return to its prior peak.
The bullish pattern is accelerating, in response to the rising crossover of the sponge and the 2 EMAs. Additionally approaching are the 9-period EMA and the 21-period EMA. The $0.000196 and $0.000330 ranges, that are projected to seem after the market droop, are Sponge’s subsequent upward targets, presuming it’s profitable in breaking above the $0.000136 degree of resistance. If the bears are profitable in holding the resistance degree of $0.000136, the value could go beneath the help degree of $0.000087. The relative power index interval 14 sign traces are trending upward at degree 30, signaling a purchase.
SPONGEUSDT Medium-term Trend: Bullish
The forecast for SPONGEUSDT is promising through the subsequent few months. Bulls are starting to reappear, and the market is rising quick. Buyers outnumbered sellers within the 4 weeks earlier than to August eighth, when the resistance degree of $0.000136 was damaged. The worth returns to the prior excessive degree so long as the bulls’ impetus persists.
Price is above the 9- and 21-period exponential shifting averages, respectively. Buying is suggested for the reason that sign line is pointing up and the Relative Strength Index interval 14 is at 30 ranges.
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— $SPONGE (@spongeoneth) September 21, 2023
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