Sponge May Increase to $0.000402 If $0.000330 Level Is Broken

Buyers’ momentum increases

SPONGE Price Analysis – 23 November

If the resistance level at $0.000330 is broken, the price will increase to $0.000402 and $0.000502. If the $0.000330 level holds and the $0.000196 level permits, the price can fall to the support levels of $0.000136 and $0.000087

SPONGEUSDT Market

Key Levels:

Resistance levels: $0.000330, $0.000402, $0.000502

Support levels: $0.000196, $0.000136, $0.000087

SPONGEUSDT Long-term Trend: Bullish

After a brief period of movement, 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. More bullish candles are starting to form, and the price is breaking through the $0.000196 price level. The sponge is currently rising, and over 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 $0.000330 is broken, the price will increase to $0.000402 and $0.000502. If the $0.000330 level holds and the $0.000196 level permits, the price can fall to the support levels of $0.000136 and $0.000087. In the meantime, a bullish indication is given by the relative strength index period 14 at 53 levels.

SPONGEUSDT Medium-term Trend: Bullish

Sponge’s loyal customer base may be responsible for its outstanding medium-term performance. Stated differently, since the $0.000136 price level was broken, price actions have been upward. The market can continue gaining from this point on until the bulls build a strong barrier or the $0.000330 resistance level holds.

The significant $0.000330 and $0.000402 resistance levels may be tested by the increasing surge. With one more push from the bulls, the crypto might reach the high resistance level of $0.000502. The rising signal line and the RSI (14) approaching the 51 levels indicate a buy signal.

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