The bulls will dominate the Sponge market soon
SPONGEUSDT Price Analysis – 13 May
Bullish momentum will build up until Sponge crosses the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels. Due to the bulls’ mounting pressure, the price may move above $0.00098.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.00065, $0.00087, $0.00098
Support levels: $0.00038, $0.000092, $0.0004
SPONGEUSDT Long-term Trend: Bullish
Currently, SPONGEUSDT is positive on the daily chart. The coin’s price ranged between the $0.00038 support and $0.00065 resistance levels a few days ago. In the end, the bulls were able to surpass the indicated resistance level. On May 7, the price reached the $0.0098 resistance level thanks to the bulls’ enthusiasm. The cost of the currency was reduced to the previously specified level of $0.00038 to enable more buyers to buy it.
Investor interest in Sponge is growing, which is causing the price to inch closer to $0.00065. The price is attempting to break above the 9-period and 21-period moving averages, indicating increasing bullish pressure. Bullish momentum will build up until the price crosses the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels. Due to the bulls’ mounting pressure, the price may move above $0.00098.
SPONGEUSDT medium-term Trend: Bullish
In the smaller time frame, SPONGEUSDT is bullish. On May 7, the price movement retraced to the $0.00065 support level after testing the $0.00098 resistance level. The level couldn’t be broken because there were more purchasers. The bulls are currently taking control as the market is moving upward toward $0.00065. Now, both people and companies will have the opportunity to invest.
The signal lines on the relative strength index period 14 are showing buy.
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