Sponge (SPONGEUSDT) Price: A Robust Bullish Rise Might Push Price Beyond $0.000402 Level

Bulls dominate Sponge market

SPONGEUSDT Price Analysis – 02 January

If Sponge breaks above $0.000330, bullish momentum will pick up speed and test the barrier levels at $0.000402 and $0.000502. Moreover, a more robust bullish rise might push the price beyond $0.000402 level.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000330, $0.000402, $0.000502

Support levels: $0.000262, $0.000196, $0.000136

SPONGEUSDT Long-term Trend: Bullish

Positive signals for the future are currently seen on the daily SPONGEUSDT chart. The sponge market is probably headed back toward its three-day-old low of $0.000136, given the downward trend. This provides an opportunity for individuals and businesses to make bets. The price will eventually rise back to its previous top due to positive pressure. We expect the current strong resistance levels to become support levels following a bullish breakout at the $0.000262 level. It’s still feasible to surpass the prior high of $0.000330.

Sponge has dropped below $0.000330 as a result of today’s crash, suggesting that there may be a price retracement. The 9- and 21-period moving averages are slightly higher than the current price. If price breaks above $0.000330, bullish momentum will pick up speed and test the barrier levels at $0.000402 and $0.000502. Moreover, a more robust bullish rise might push the price beyond $0.000402  level.

SPONGEUSDT medium-term Trend: Bullish

SPONGEUSDT is up for a shorter period. The sponge’s price will increase in response to a client rise. On December 14, the price movement tested the $0.000330 resistance level before retreating to the $0.000136 support level. Sales fluctuated, but the $0.000136 support level didn’t change. As the bulls keep applying pressure, the market is rising and approaching the $0.000330 barrier.

The relative strength index period 14 signal lines above 51 indicate a purchase signal.

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— $SPONGE (@spongeoneth) January 2, 2024

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