Sponge (SPONGEUSDT ) Price May Increase Above $0.00065 Level Soon

Azeez Mustapha


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The bulls are dominating Sponge market

SPONGEUSDT Price Analysis – 12 May

Bullish momentum will continue to build until Sponge breaks through the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 resistance levels. The bulls’ pressure may continue to build, driving the price up above $0.00098 mark.


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. A few days ago, the coin was range-bound between the $0.00065 resistance and $0.00038 support levels. The bulls were ultimately successful in breaking through the mentioned resistance level. On May 7, the bulls’ enthusiasm was sufficient to drive the price to the $0.0098 resistance level. To allow more purchasers to purchase the currency, the price dropped to the aforementioned amount of $0.00038.

It is time to buy Sponge

More buyers are investing on Sponge, moving the price level toward $0.00065. The price is attempting to break above the 9-period and 21-period moving averages, signaling increased pressure from the bulls. Bullish momentum will continue to build until the price breaks through the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 resistance levels. The bulls’ pressure may continue to build, driving the price up above $0.00098 mark.

SPONGEUSDT medium-term Trend: Bullish

SPONGEUSDT is bullish in the lower time frame. On May 7, the price movement tested the $0.00098 resistance level before retracing to the $0.00065 support level. The level was unbreakable due to an increase in the number of buyers. The market is currently rising toward $0.00065 as the bulls seize control. Individuals and businesses will now have the chance to invest.

The relative strength index period 14 with the signal lines exhibiting buy.

You can trade SPONGE spot at 10 am UTC

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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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