$SPONGE: Is a Bullish Comeback on the Horizon?

After a period of consolidation, $SPONGE saw a bearish breakdown below the key $0.00009 support level. This move pushed the price to a low of $0.000085, where bulls successfully regrouped and mounted a counter-rally. As September begins, the market has shown a strong upward reaction, heading back toward the pivotal $0.00009 mark. This rebound suggests that the bearish momentum may be waning and a bullish shift could be underway.

Key Levels to Monitor

• Resistance: $0.000115, $0.000120, $0.000130
• Support: $0.000085, $0.000080, $0.000075

Daily Chart: Indicators Point to a Potential Reversal

The daily chart provides a compelling case for a potential bullish reversal. The market’s recent dip drove the Relative Strength Index (RSI) deep into oversold territory, a condition that historically precedes a corrective upward move. This crypto signal, combined with the volatility reflected in the Bollinger Bands, suggests that the market was primed for a bounce. The $SPONGE bulls appear to be capitalizing on this opportunity, driving the price higher from the $0.000085 support.

$SPONGE 4-Hour Chart: Facing a Critical Test

On the 4-hour timeframe, the current upward price action marks a breakout from the recent consolidation. While this presents an opportunity, it also brings the price to a crucial test: the $0.00009 resistance level. This level will be the first major hurdle for the bulls to overcome. A sustained push above this point, especially if a higher support can be established around $0.000088, would provide a strong foundation for a continuation of the rally and a move toward higher resistance levels.

Buy $SPONGE!

When bro hits a 100x and forgets to text the group chat 💦🧽 pic.twitter.com/ImLkfYcUWX

— $SPONGE (@spongeoneth) September 1, 2025

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