Skip to content
Trade Ideas

Sponge Market Is Performing Well

Azeez Mustapha
Updated 1 min read
Article Rating:
Based on 1 vote
Login to rate this article.

Brighter future awaits SPONGEUSDT

SPONGE (SPONGEUSDT) Price Analysis – 22 November

The resistance levels of $0.000136, $0.000196, and $0.000330 could be the objectives if the $0.000081 level holds. The support levels of $0.000006 and $0.000004 may be contested if the negative trend breaks through the $0.000081 level.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000136, $0.000196, $$0.000330

Support levels: $0.000081, $0.000006, $0.000004

SPONGEUSDT Long-term Trend: Bullish

Sponge appears to have a bright future. Customers are not yet fatigued. The cost of sponges is rising due to consumer demand. The resistance level of $0.000136 was not upheld on September 6. Every day, there were more bullish candles. The price surpassed a crucial pricing criterion at $0.000136. The price fluctuated between the designated resistance levels last week. Near the end of the week, sellers increased their pressure and broke the level in an attempt to attract more investors. Buyers are currently exerting further pressure in an attempt to hit the $0.000136 goal.

Sponge Market Is Performing Well

The price trading above and the EMA Cross crypto signaling indicator both demonstrate how well the sponge market is performing. The resistance levels of $0.000136, $0.000196, and $0.000330 could be the objectives if the $0.000081 level holds. The support levels of $0.000006 and $0.000004 may be contested if the negative trend breaks through the $0.000081 level.

 

SPONGEUSDT Medium-term Trend: Bullish

For four hours, the Sponge chart may show a positive trend. The selling disturbance did not cause a bearish market reversal. It seems that the bulls’ pressure has not yet decreased at the previously recommended resistance level. On October 14, strong bullish candles emerged, indicating that buyers are gaining headway. Once the price breaks through the $0.000136 barrier, it will rise to roughly $0.000196.

Sponge Market Is Performing Well Because it is more expensive than the EMA Cross indication, it seems that buyers are becoming more active. The MACD displays a buy signal.

Start using a world-class auto trading solution

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
8cap
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Trade Now
avatrade
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Trade Now
avatrade
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
Trade Now
avatrade
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Trade Now

More Trade Ideas