SPONGEUSDT Price Pulls Back for Stronger Bullish Momentum

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Bulls are dominating overbears

SPONGEUSDT Price Analysis – 28 May

Further increase in the Sponge price is highly envisaged, in case the Bulls increase their pressure, $0.000360 and $0.000400 price levels may be reached but a pullback is inevitable in a trending market. Alternatively, the support levels of $0.000253 and $0.000145 level may be tested if $0.000250 level is penetrated.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000310, $0.000360, $0.000400

Support levels: $0.000250, $0.000253, $0.000145

SPONGEUSDT Long-term Trend: Bullish

SPONGEUSDT price is still on the bullish trend on the Long-term outlook. The Bulls were in control of the Sponge market. The bullish trend topped the price at $0.000400 level on 01 May. The Bears interrupted the uptrend and the price was pushed down to the level of $0.000145. The momentum of both the Bears and the Bulls seems to be at equilibrium and the coin started a sideways movement for more than eight days within the range of $0.000253 and $0.000250 price level. On May 26, a bullish candle emerged that broke up the former supply level of $0.000250. Sponge market was closed yesterday with a bullish candle on the daily chart; which connotes that there is a tendency for the Sponge price to increase further.

The Hull Suite Crypto signals is trading below the coins; that is the bullish momentum is strong in the SPONGE market. QQE MOD Crypto signals with the histogram line above zero level indicate a buy signal. Further increase in the Sponge price is highly envisaged, in case the Bulls increase their pressure, $0.000360 and $0.000400 price level may be reached but a pullback is inevitable in a trending market. Alternatively, the support level of $0.000253 and $0.000145 level may be tested if $0.000250 level is penetrated.

Update on SpongeV2 | Positive News

SPONGEUSDT Short-term Trend: Bullish

SPONGE is bullish on the medium-term outlook. Sponge was moving sideways within the price levels of $0.000253 and $0.000145 for more than one week. On May 26, the Bulls broke up the $253 level and the coin rallied towards the $250 price level. The Bulls’ momentum became weak and the price started consolidating above $0.000250 level.

SPONGE price is trading above the Hull Suite Crypto signals which indicates a strong bullish trend. The QQE MOD Crypto signals with the signal line above zero level connotes that consolidation is ongoing in the market of Sponge.

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