The bullish momentum is increasing in Sponge market
SPONGEUSDT Price Analysis – 17 May
Bullish momentum will accelerate as the Sponge breaks through the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels. The price may rise above $0.00098 because of the bulls’ heightened pressure
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
SPONGEUSDT is bullish at the moment on the daily chart. Crypto still attracting more investors at the present level. The cost of the coin has been reduced to the previously set value of $0.00038 in order to entice more buyers to buy it. The price of the currency oscillated between the $0.00038 support and $0.00065 resistance levels a few days ago. The marked resistance level was eventually broken by the bulls. On May 7, the price increased to the $0.0098 resistance level as a result of the bulls’ enthusiasm. The moment is now to make an investment.
Sponge is attracting more investor interest, which is pushing the price up toward $0.00065. Indicating growing bullish pressure, the price is seeking to break above the 9-period and 21-period moving averages. Bullish momentum will accelerate as the price breaks through the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels. The price may rise above $0.00098 because of the bulls’ heightened pressure.
SPONGEUSDT medium-term Trend: Bullish
In the smaller time frame, SPONGEUSDT is bullish. Due to an increase in customers, the sponge’s price will go up soon. On May 7, the price movement retraced to the $0.00065 support level after testing the $0.00098 resistance level. Because there were more purchasers, the $0.00038 support level remained intact. As the bulls seize the initiative, the market is currently moving upward toward $0.00065.
The relative strength index period 14 with the signal lines above 45 exhibits a buy signal.
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