Sponge (SPONGEUSDT) Price May Extend Gains to $0.000330 

The Price reverses at the support level of $0.000136

Sponge Weekly Price Analysis – November 27

An increase in the bulls’ momentum may push the price to penetrate the $0.000330 level, then, the resistance levels of $0.000402 may be reached. In case the $0.000330 level holds, the price may reverse and face the support levels at $0.000196, $0.000196, and $0.000136.

SPONGEUSDT Market

Key levels:

Resistance levels: $0.000330, $0.000402, $0.000502

Support levels: $0.000196, $0.000169, $0.000136

SPONGEUSDT Long-term Trend: Bullish

The sponge is bullish in the daily chart outlook; the coin was under the control of the bears for many days. The bearish momentum bottomed the price at the $0.000136 support level. The bullish engulfing candle emerges and the price increases to break up the $0.000169 and $0.000196 price levels. Sponge price is targeting the resistance level of $0.000330 before the weekly market closes.

The Sponge price has penetrated the fast-moving EMA (9 periods EMA) and slow-moving averages EMA (21 periods EMA) upside and it is trading above the two. An increase in the bulls’ momentum may push the price to penetrate the $0.000330 level, then, the resistance level of $0.000402 may be reached. In case the $0.000330 level holds, the price may reverse and face the support levels at $0.000196, $0.000196, and $0.000136.

 SPONGEUSDT Medium-term Trend: Bullish

The bulls take over the Sponge market; in other words, the precious metal is bullish in the 4–hour chart. The bears were pushing the price down towards the support level of $0.000136 last week. The mark was reached before the bulls interrupted the bears. The price turns and breaks up the resistance level of $0.000196. The price is heading towards the resistance level of $0.000330.

The price has penetrated the two EMA upside, which means, Sponge is trading above the 9 periods EMA and 21 periods EMA as an indication of a bullish trend in the Sponge market.  The relative strength index is pointing upside at 54 levels to indicate a buy signal.

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