The buyers will dominate Sponge market soon
SPONGEUSDT Price Analysis – 19 May
Bullish momentum will accelerate as soon 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 also rise above $0.00098 as a result of the bulls’ stronger push.
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. More organizations and individuals as an investor are coming into the Sponge market as the ranging movement continues between $0.00065 and $0.00038 levels. This will enable them to enjoy the bullish trend that will soon commence in the SPONGEUSDT market. Following a bullish breakout at the $0.00065 level, the existing strong resistance levels will quickly turn into support levels.
Yesterday’s partial breakout causes the price to rise above $0.00065 and signals more bullish pressure. The 9-period and 21-period moving averages are being marginally overtaken by the price. Bullish momentum will accelerate as soon 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 also rise above $0.00098 as a result of the bulls’ stronger push.
SPONGEUSDT medium-term Trend: Bullish
On a shorter time horizon, SPONGEUSDT is favorable. A rise in customers will result in a price hike for the sponge. The price movement retraced to the $0.00065 support level after testing the $0.00098 resistance level on 07 May. The product was purchased by more people, therefore the $0.00038 support level remained constant. As the bulls take the lead, the market will move upward above $0.00065.
The relative strength index period 14 with the signal lines at 48 will exhibit a buy signal soon.
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