SPONGE ($SPONGE) Maintains Strength Above Crucial $0.00011 Support Zone

SPONGE/USD ($SPONGE) has shown notable resilience after finally breaking through the stubborn $0.00011 barrier—an area that had served as strong resistance in recent sessions. Now trading above this threshold, the token is demonstrating renewed bullish momentum and increasing market confidence.

Although this breakout introduces a higher degree of short-term volatility, the underlying price structure remains constructive. In the event of a pullback, the $0.00011 level—or potentially $0.000105—could now act as a reliable support base, helping to cushion any downward movement and preserving the upward trajectory.

Critical Price Levels

• Resistance: $0.000115, $0.000120, $0.000130

• Support: $0.000090, $0.000085, $0.000080

$SPONGE Daily Chart Outlook: Bullish Momentum Slows as RSI Flashes Overbought Warning

The daily chart reflects a powerful surge in buying pressure, with a strong bullish marubozu candle lifting the price from approximately $0.000102 to just under $0.000113. However, this steep rally has pushed the Relative Strength Index (RSI) to overbought levels near 85, suggesting the possibility of a near-term pullback in the $SPONGE market.

Currently, the market is consolidating around the $0.00013 region, cooling off after the initial push. A corrective move could see the token revisit support levels at $0.00011 or $0.000105, both of which may now function as demand zones. Despite the potential for a short-term dip, the overall market structure suggests bulls are likely to defend these key areas and maintain the broader uptrend.

SPONGE/USD 4-Hour Chart: Consolidation Phase Emerges Following Bullish Breakout

The 4-hour timeframe highlights ongoing bullish pressure, with Bollinger Bands pointing upward. However, price action has plateaued around $0.000113, hinting at a pause in momentum and the onset of a consolidation phase.

The 20-period moving average is closing in on the price, supporting the idea of a market cooling-off period. Should this sideways movement continue, the Bollinger Bands may contract, creating the conditions for a potential breakout or retracement.

Regardless of short-term price fluctuations, the recent breakout above former resistance suggests that bulls remain in control. A continuation of the consolidation could lay the groundwork for the next move—either a renewed bullish push or a healthy pullback before another leg higher.

Buy SPONGE/USD

How crypto bros treat their meme coins 🧽🧽 pic.twitter.com/alSbkGeD7N

— $SPONGE (@spongeoneth) May 29, 2025

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