The buyers’ momentum will soon increase
SPONGEUSDT Price Analysis – 22 May
Once the Sponge clears the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels, bullish momentum will pick up speed. The increased push of the bulls may also cause the price to surge above $0.00098.
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 on the daily chart. The price of Sponge pulls back in other to favor more investors. Companies and private investors are entering the sponge market as it continues to range between $0.00065 and $0.00038 levels. They will be able to take advantage of the positive trend that will soon start in the SPONGEUSDT market, thanks to this. The high resistance levels that are now in place will swiftly change into support levels if there is a bullish breakout at the $0.00065 level.
The price is just beginning to pass the 9-period and 21-period moving averages. Once the price clears the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels, bullish momentum will pick up speed. The increased push of the bulls may also cause the price to surge above $0.00098.
SPONGEUSDT medium-term Trend: Bullish
SPONGEUSDT is favored in the shorter time horizon. More customers are buying the coin, therefore the $0.00038 support level stayed the same. The price of the sponge will increase as demand grows. After testing the $0.00098 resistance level on May 7th, the price movement reversed course and reached the $0.00038 support level. The bulls will take control as the price rises above $0.00065.
The relative strength index period 14 with the signal lines at 40 exhibiting buy signal.
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