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SPONGE continued to rise
SPONGEUSDT Price Analysis – 24 November
In the case that the $0.000330 resistance level is broken higher, the Sponge levels of $0.000402 and $0.000502 could be examined. Bears can find support at $0.000196, $0.000269, and $0.000136 if the $0.000330 resistance level holds.
SPONGE/USDT Market
Key levels:
Resistance levels: $0.000330, $0.000402, $0.000502
Support levels: $0.000196, $0.000269, $0.000136
SPONGEUSDT Long-term Trend: Bullish
Bullish on the daily SPONGEUSDT chart. The price increased progressively starting on October 28 and reached a peak of $0.000196. The bulls were able to break above the target level when a bullish engulfing candle formed. More positive candles were lit, and the SPONGE continued to rise. It broke through the upward $0.000196 barrier and is now up against the $0.000330 barrier.
The SPONGE market is dominated by buying power. As long as the price remains above both EMAs, the crossover of the fast-moving average (9 periods) over the slow-moving average (21 periods EMA) denotes a positive trend. The trend may continue to be bullish as long as the bulls continue to advance. In the case that the $0.000330 resistance level is broken higher, the price levels of $0.000402 and $0.000502 could be examined. Bears can find support at $0.000196, $0.000269, and $0.000136 if the $0.000330 resistance level holds.
SPONGEUSDT medium-term Trend: Bullish
The four-hour SPONGEUSDT chart is trending upward. The Sponge market was dominated by buyers last week. The positive trend persisted as the pressure on the bulls increased with time. The resistance level at $0.000196 was surpassed higher. The price is moving toward the $0.000330 resistance level as a result of the bulls’ intensified pressure.
It indicates a bullish market because the Crypto is trading above the 9- and 21-period EMAs and the fast EMAs are above the slow EMAs. The relative strength index period 14 is at 45 levels, and the signal lines are bending higher to imply a buy signal.
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