Sponge (SPONGEUSDT) Price: Positive Pressure Causes Price Increase

Azeez Mustapha


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Buyers’ are increasing in Sponge market

SPONGEUSDT Price Analysis – 03 January

Bullish momentum will accelerate and test the barrier levels at $0.000402 and $0.000501 if Sponge breaks over $0.000330. Furthermore, a stronger bullish increase might drive the price beyond $0.000402.


Key levels:

Resistance levels: $0.000330, $0.000402, $0.000501

Support levels: $0.000262, $0.000196, $0.000136

SPONGEUSDT Long-term Trend: Bullish

On the daily SPONGEUSDT chart, there are currently positive signals for the future. Given the downward trend, the sponge market is most likely returning to its three-day low of $0.000196. This gives people the chance to wager on themselves and on businesses. Positive pressure will eventually cause the price to return to its former peak. After a positive breakout at the $0.000262 level, we anticipate that the present strong resistance levels will turn into support levels. Breaking through the previous high of $0.000330 is still possible.

Due to today’s incline, the price has increased above $0.000262, indicating that a price increment commences. The 21- and 9-period moving averages are lower than the market price. Bullish momentum will accelerate and test the barrier levels at $0.000402 and $0.000501 if the price breaks over $0.000330. Furthermore, a stronger bullish increase might drive the price beyond $0.000402.

SPONGEUSDT medium-term Trend: Bullish

For the shorter time, SPONGEUSDT is up. An increase in customers will result in a price increase for the sponge. The price movement on December 14 fell below the $0.000126 support level after testing the $0.000330 resistance level. While sales varied, the $0.000126 support level remained constant. The market is increasing and getting closer to the $0.000330 barrier as long as the bulls exert pressure.

A buy signal is shown by the relative strength index period 14 signal lines above 54.

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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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