Sponge (SPONGEUSDT) Price: Current Strong Resistance Levels to Become Support Levels

Azeez Mustapha


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Bulls’ strength is increasing in Sponge market

SPONGEUSDT Price Analysis – 02 January

If Sponge breaks above $0.000262, bullish momentum will pick up speed and test the barrier levels at $0.000330 and $0.000402. Moreover, a more robust bullish rise might push the price beyond $0.000402.


Key levels:

Resistance levels: $0.000262, $0.000330, $0.000402

Support levels: $0.000196, $0.000136, $0.000081

SPONGEUSDT Long-term Trend: Bullish

Positive signals for the future are currently seen on the daily SPONGEUSDT chart. The sponge market is probably headed back toward its three-day-old low of $0.000196, given the downward trend. This provides an opportunity for individuals and businesses to make bets. The price will eventually rise back to its previous top due to positive pressure. We expect the current strong resistance levels to become support levels following a bullish breakout at the $0.000262 level. It’s still feasible to surpass the prior high of $0.000330.

Sponge has dropped below $0.000262 as a result of today’s crash, suggesting that there may be a price retracement. The 9- and 21-period moving averages are slightly higher than the current price. If price breaks above $0.000262, bullish momentum will pick up speed and test the barrier levels at $0.000330 and $0.000402. Moreover, a more robust bullish rise might push the price beyond $0.000402.

SPONGEUSDT medium-term Trend: Bullish

SPONGEUSDT is up for the shorter period of time. The sponge’s price will go up in response to a rise in clients. On December 14, the price movement tested the $0.000330 resistance level before retreating to the $0.000126 support level. Sales fluctuated, but the $0.000126 support level didn’t change. As the bulls keep applying pressure, the market is rising and approaching the $0.000330 barrier.

The relative strength index period 14 signal lines above 52 indicate a purchase signal.

Watch this space for additional information!

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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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