SPONGE/USD Archives - Page 21 of 22

July 24, 2023

SPONGE/USD ($SPONGE) Bulls Begin to Turn the Market in Their Favor

Continuous bearish pressure has caused the $SPONGE bulls to shift their baseline below the $0.00013 price level. The bulls seem to have firmly secured their position at $0.0001267, and from here, we have noticed the market gaining upward momentum, now crossing above the 9-day moving average. Key Le...

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July 23, 2023

SPONGE/USD ($SPONGE): This Week Promises to Be Good for the Bulls

The selling pressure is forcing the SPONGE/USD pair more into the demand zone. However, the buyers continue to form a hindrance to the bearish advances, and because the market is now ranging sideways along the support level, an upward price breakout may be imminent. We may begin to see this play ou...

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July 22, 2023

SPONGE/USD ($SPONGE) Market Enters the Demand Zone

The selling pressure has forced the $SPONGE market into the $0.00013 price zone. The presence of the bulls in the market can be felt as buyers held to the demand level, preventing a steep price decline. In the $0.00013 price zone, a bullish price rush can be triggered. Key Levels Resistance: $0.000...

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July 18, 2023

SPONGE/USD ($SPONGE) Buyers Once Again Regroup at $0.0001325

The recent influx of buyers and sellers in the SPONGE/USD market has had a significant impact on market volatility, resulting in substantial price swings. Due to this heightened volatility, the price has retraced to the support level. However, with the bulls regrouping at $0.0001325, the bear marke...

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July 13, 2023

SPONGE/USD ($SPONGE) Consolidates Ahead of a Bounce

Since July 7, the SPONGE/USD market has continued to maintain movement consistently as it forms swing highs and swing lows within a horizontal price channel, which indicates a period of consolidation and a lack of sustained directional momentum. The accompanying significant candlesticks during each...

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July 11, 2023

SPONGE/USD ($SPONGE): Bulls Keep Pressure on $0.0001381

The SPONGE/USD bear market is now facing a brick wall at the $0.000136 price level. The price is turning back to the upside from this crucial demand level. Take note of the slightly higher support level at $0.0001363 and the repeated testing of the $0.0001381 resistance level. This shows that Spong...

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July 08, 2023

SPONGE/USD ($SPONGE) Consolidates Around $0.0001374, Ahead of a Bounce

The bulls have shown tenacity in the SPONGE/USD market by resisting negative pressure at the $0.00014 support level since mid-June. After rising to a high of $0.0001581, the bear market was triggered too soon, putting more pressure on the demand level. The bulls were forced to find another lower ba...

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July 08, 2023

SPONGE/USD ($SPONGE) Bounces Back at June 15’s Demand Level

In the $SPONGE market, the bulls have demonstrated resilience by holding their position against bearish pressure at the $0.00014 support level since June 16. From this level, the market reached a high of $0.0001581, which triggered the bearish momentum. However, the market managed to remain strong ...

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July 06, 2023

SPONGE/USD ($SPONGE): The $0.00014 Price Continues to Be a Strong Fortress for the Bulls

The SPONGE/USD market has experienced a consistent support level at $0.00014 since June 20, and the price has repeatedly fallen back to this level during the bear market. Despite several bearish attempts, the market has been unable to break through this support level, indicating a strong level of b...

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