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The sponge market is seeing significant upward momentum
SPONGE (SPONGEUSDT) Price Analysis – 01 November
If the $0.000136 level is held, the resistance levels of $0.000196, $0.000330, and $0.000402 may be the next targets. If the support level at $0.000136 is breached below, support levels at $0.000081 and $0.000006 can be examined.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000196, $0.000330, $0.000402
Support levels: $0.000136, $0.000081, $0.000006
SPONGEUSDT Long-term Trend: Bullish
Sponge is optimistic about the future. The daily surge in customer demand has caused the Sponge prices to burst beyond the previous resistance level of $0.000136. As price increases are closely linked to client demand, it is now aiming for $0.000196. The number of bullish candles rose daily. At $0.000136, the price passed through a significant resistance level. Throughout the past two weeks, the price has fluctuated both inside and outside of the stated resistance levels. These days, buyers are putting more pressure on the coin and attempting to attract more investors. Customers are currently exerting more pressure on the price to hit $0.000196.
The sponge’s 9- and 21-period moving averages (EMAs) are crossing, and the two EMAs that slope northward suggest that bullish trade is occurring. If the $0.000136 level is held, the resistance levels of $0.000196, $0.000330, and $0.000402 may be the next targets. If the support level at $0.000136 is breached below, support levels at $0.000081 and $0.000006 can be examined.
SPONGEUSDT Medium-term Trend: Bullish
Sponge’s 4-hour chart displays a bullish trend. The bulls have breached the resistance level at $0.000136. The sellers’ actions had no adverse effect on the market. Today’s strong bullish candles indicate that buyers are acting faster. In the future, the price will quickly reach the $0.000196 level.
Given that the coin is trading above both EMAs, there is probably additional buying momentum. A purchase signal is shown by the period 14 signal line of the Relative Strength Index, which rises at 64.
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