SPONGE/USD: Bulls Attempt to Regain Control Around the $0.000003 Price Level
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Following the bearish pressure that pushed the SPONGE/USD market below the $0.000003 threshold in the previous analysis, the price is still struggling to reclaim this critical level. Bearish momentum remains dominant around the $0.000003 zone, indicating that sellers are still in control for now. However, buyers are attempting a modest but resilient push to regain footing above this key price area.
Key Price Levels
- Resistance: $0.0000040, $0.0000045, $0.0000050
- Support: $0.0000030, $0.0000025, $0.0000020
$SPONGE: Bulls Attempt to Hold Ground Around the $0.000003 Price Area
After bearish momentum pushed the SPONGE/USD market below the $0.000003 price level, a key support zone has now been identified at $0.0000028. This support appears relatively firm, and from this level, bulls have made several attempts to reclaim the $0.000003 threshold and initiate a sustained rally above it. However, resistance at this level remains intact, with sellers consistently exerting pressure and keeping the market capped below this critical point.
A decisive breakout above $0.000003 is essential to confirm a potential upside shift in the crypto signal. If price action continues to consolidate around this region, the Bollinger Bands may begin to contract, indicating reduced volatility and the formation of a narrow price channel that could precede a strong directional move.
SPONGE/USD 4-Hour Chart Outlook
From the 4-hour chart outlook, price action continues to probe levels beneath the $0.000003 mark. Despite a notable bounce emerging, the bullish response lacks the strength needed to sustain a meaningful upward move. This sluggish recovery highlights the persistent influence of sellers, whose pressure the bulls have yet to overcome. Unless bearish momentum subsides, any upward attempt is likely to remain subdued.
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Time to hunt some bears pic.twitter.com/TZA04OKnWH
— $SPONGE (@spongeoneth) November 19, 2025
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