Bullish momentum will accelerate soon
SPONGEUSDT Price Analysis – 20 December
Bullish momentum will accelerate as soon as Sponge breaks through the $0.000262 resistance level, which is followed by the $0.000330 and $0.000403 barrier levels. Additionally, the price can rise above $0.00003 as a result of the bulls’ stronger push.
SPONGEUSDT Market
Key levels:
Resistance levels: $0.000262, $0.000330, $0.000403
Support levels: $0.000196, $0.000136, $0.000081
SPONGEUSDT Long-term Trend: Bullish
Right now, SPONGEUSDT’s daily chart indicates a positive outlook. The continuous range movement in the sponge market between $0.000136 and $0.000081 provides a chance for individuals and organizations to make investments. As the positive pressure builds, the price will shortly surge to the prior high. Following a bullish breakout at the $0.00065 level, the present high resistance levels will shortly turn into support levels. It is possible to surpass the previous high of $0.000403 level.
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Today’s pullback indicates more bearish pressure and pushes the price below $0.000262. The 9-period and 21-period moving averages are marginally being crossed by the price. Bullish momentum will accelerate as soon as the price breaks through the $0.000262 resistance level, which is followed by the $0.000330 and $0.000403 barrier levels. Additionally, the price can rise above $0.000330 as a result of the bulls’ stronger push.
SPONGEUSDT medium-term Trend: Bullish
Across the shorter time horizon, SPONGEUSDT is favorable. An increase in customers will result in a price hike for the sponge. Before retreating to the $0.00065 support level, the price action on December 14 tested the $0.000330 resistance level. Because more customers purchased the product, the $0.000196 support level remained constant. The bulls are taking the lead soon, and the market is moving upward toward the $0.000262 level.
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A buy signal is shown by the relative strength index period 14 signal lines above 37.
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— $SPONGE (@spongeoneth) December 19, 2023
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