Sponge (SPONGEUSDT) Price: A Positive Breakout at $0.000196 Level Is Anticipated

Azeez Mustapha


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Buyers are increasing in Sponge market

SPONGEUSDT Price Analysis – 01 January

Bullish momentum will accelerate and test the $0.000262 and $0.000330 barrier levels if price breaks over $0.000196. Furthermore, a stronger bullish increase might drive the price above $0.000330.


Key levels:

Resistance levels: $0.000196, $0.000262, $0.000330

Support levels: $0.000136, $0.000081, $0.000006

SPONGEUSDT Long-term Trend: Bullish

The daily SPONGEUSDT chart is presently exhibiting positive signs for the future. Given the negative trend, the sponge market is likely returning to its previous low of $0.000136, which was reached three days ago. This offers a chance for both people and corporations to place wagers. Positive pressure will eventually cause the price to return to its former peak. After a positive breakout at the $0.000262 level, we anticipate that the present strong resistance levels will turn into support levels. Breaking through the previous high of $0.000330 is still possible.

The collapse of today has caused the price to go below $0.000330, indicating a possible price retracement. The moving averages with 9 and 21 periods are a little bit higher than the current price. Bullish momentum will accelerate and test the $0.000262 and $0.000330 barrier levels if price breaks over $0.000196. Furthermore, a stronger bullish increase might drive the price above $0.000330.

SPONGEUSDT medium-term Trend: Bullish

For the shorter time, SPONGEUSDT is up. An increase in customers will result in a price increase for the sponge. The price movement on December 14 retreated to the $0.000136 support level after testing the $0.000330 resistance level. Despite variations in sales, the $0.000136 support level remained constant. The market is gaining and getting closer to the $0.000330 barrier as the bulls continue to exert pressure.

A buy signal is shown by the relative strength index period 14 signal lines above 51.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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