Sponge may continue to rise
SPONGE Price Analysis – 09 November
If the resistance level at $0.000196 is broken, the price will increase to $0.000330 and $0.000402. If the $0.000196 level holds and the $0.000136 level permits, the price can fall to the $0.000087 and $0.000004 support levels. In the meantime, a bullish indicator is given by the relative strength index period 14 at 45 levels
SPONGEUSDT Market
Key Levels:
Resistance levels: $0.000196, $0.000330, $0.000402
Support levels: $0.000136, $0.000087, $0.000004
SPONGEUSDT Long-term Trend: Bullish
After stabilizing for a few days, Sponge began to rise on August 7. This is evident when the prolonged daily bullish candle appears and breaks through the $0.000136 resistance level. The price is approaching the $0.000196 price level as more bullish candles emerge. Sponge is rising higher today, and above the $0.000196 barrier level, a robust daily bullish candle is forming.
The daily chart indicates that the market is dominated by buyers. The price has broken above the 9- and 21-period moving averages (EMAs), with the former above the latter, indicating the start of a bullish trend. If the resistance level at $0.000196 is broken, the price will increase to $0.000330 and $0.000402. If the $0.000196 level holds and the $0.000136 level permits, the price can fall to the $0.000087 and $0.000004 support levels. In the meantime, a bullish indicator is given by the relative strength index period 14 at 45 levels.
SPONGEUSDT Medium-term Trend: Bullish
The remarkable medium-term performance of Sponge could be explained by the loyal customer base. Stated differently, since the $0.000087 price level was tested, price actions have been upward. Sponge is increasing as of right now, and it may continue to rise until the bulls build a strong barrier or the $0.000196 resistance level holds.
Testing the significant resistance of $0.000196 and $0.000330 could be the goal of the upward advance. The coin has the potential to achieve a high resistance level of $0.000330 with one more push from the bulls. A purchase signal is shown by the rising signal line and the RSI (14) nearing the 31 levels.
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