Sponge (SPONGEUSDT) Price Will Break Above $0.00065 Soon

Azeez Mustapha


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The bullish momentum is increasing in Sponge market

SPONGEUSDT Price Analysis – 18 May

As soon as the Sponge breaches the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels, bullish momentum will pick up speed. Also, the price may move above $0.00098 due to an increased push from the bulls.


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. The ranging movement that is ongoing between $0.00065 and $0.00038 in the sponge market is to give individuals and organizations an opportunity to invest. The price will soon soar to the previous high as the bullish pressure increases. The current high resistance levels will soon become support levels after a bullish breakout at the $0.00065 level. The previous high of $0.00098 level may be surpassed.


There was a partial breakout today, which pushes the price up above $0.00065 and it Indicate an increase in bullish pressure. The price is slightly trading above the 9-period and 21-period moving averages. As soon as the price breaches the $0.00065 resistance level, which is followed by the $0.00087 and $0.00098 barrier levels, bullish momentum will pick up speed. Also, the price may move above $0.00098 due to an increased push from the bulls.



SPONGEUSDT medium-term Trend: Bullish

SPONGEUSDT is positive on the shorter time scale. The price of the sponge will increase due to an increase in clients. On May 7, the price movement tested the $0.00098 resistance level before retracing to the $0.00065 support level. More people bought the product, therefore the $0.00038 support level was steady. The market is currently heading upward toward $0.00065 as the bulls take the lead.

The relative strength index period 14 with the signal lines above 45 exhibits a buy signal.

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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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