Bullish momentum increases
SPONGEUSDT Price Analysis – November 28
Should the bulls’ pressure continue to build, Sponge may break through the $0.000330 resistance level and go up to the $0.000402 and $0.000502 price levels. The price may drop into the support levels at $0.000196, $0.000269, and $0.000136 if the resistance level at $0.000330 persists.
Key Levels:
Resistance levels: $0.000330, $0.000402, $0.000502
Support levels: $0.000196, $0.000269, $0.000136
SPONGEUSDT Long-term Trend: Bullish
The SPONGEUSDT daily chart shows bullishness. On the daily chart, the coin was in a retracement last week. The price was unable to break over the $0.000402 barrier level despite the upward momentum. Retests were conducted at the $0.000136 support level. On November 21, the price rose above the $0.000196 resistance level as the bulls got more traction and attempted to breach the $0.000330 barrier level.
The two EMAs are bending upward to correspond with the price’s movement. The cryptocurrency’s trading is still above the 21- and 9-period EMAs, indicating bullish momentum. Should the bulls’ pressure continue to build, Sponge may break through the $0.000330 resistance level and go up to the $0.000402 and $0.000502 price levels. The price may drop into the support levels at $0.000196, $0.000269, and $0.000136 if the resistance level at $0.000330 persists.
SPONGEUSDT Medium-term Trend: Bullish
When it comes to the medium-term prognosis, SPONGEUSDT is moving bullishly. The SPONGEUSDT market is eventually dominated by bulls. The price is rising and breaking through the resistance level at $0.000196 as the bulls’ enthusiasm grows. The price is rising in the direction of the $0.000330 resistance level.
The fact that the price is trading above the 21- and 9-period EMAs suggests that bulls are in charge of the market. There is a bullish signal on the relative strength index period 14 at 52 levels..
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