Bulls are capable of applying more pressure
SPONGE Price Analysis – 28 November
If the resistance level of $0.000196 is broken higher, Sponge levels of $0.000330 and $0.000402 might be attempted. Bear support levels are located at $0.000136. If the resistance level of $0.000196 holds, there may be additional negative action if the bears push at $0.000081 and $0.000006.
SPONGE/USDT Market
Key levels:
Resistance levels: $0.000196, $0.000330, $0.000402
Support levels: $0.000136, $0.000081, $0.000006
SPONGEUSDT Long-term Trend: Bullish
The outlook is optimistic, according to the SPONGEUSDT daily chart. Due to the upward trend that began on October 28, the price reached its highest point at $0.000081. Upon the appearance of a bullish harami candle, the bulls crossed over the specified level. As more bullish candles appeared, the SPONGE kept rising. After the $0.000136 barrier was broken, it is presently approaching the $0.000196 level.
Buyers control the SPONGE market. Despite the Hull Suite crossing below the price, the price is trading above the QQE MOD crypto indicator’s zero line, suggesting a positive gain. The price levels of $0.000330 and $0.000402 may be tried if the resistance level of $0.000196 is broken higher. $0.000136 is where bear support levels are found. If the bears push at $0.000081 and $0.000006, there can be further negative activity if the resistance level of $0.000196 holds.
SPONGEUSDT medium-term Trend: Bullish
The 4-hour SPONGEUSDT chart shows bullishness. Buyers dominated the sponge market last week. As the bullish trend continued, the pressure on the bulls increased significantly. We looked at the $0.000196 resistance level. The price is getting closer to the resistance level of $0.000196 now that the bulls are more capable of applying pressure.
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