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.
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. 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
🌞Good morning, $SPONGE community!🧽
⏰ $SPONGE spot trading opens today at 10 am UTC on @MEXC_Global !
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— $SPONGE (@spongeoneth) May 11, 2023
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