SPONGE/USD ($SPONGE) Bulls Regroup at the $0.00005 Price Level

The anticipated rebound at the $0.00007 price level failed to materialize, as the market experienced strong downward volatility during today’s trading session (October 13). This bearish momentum drove the price toward the $0.00005 threshold. The daily candlestick for today formed a massive bearish marubozu, indicating that the bears maintained full control of the market throughout the session.

Key Levels to Watch:

• Resistance: $0.000115, $0.000120, $0.000130
• Support: $0.000050, $0.000045, $0.000040

SPONGE/USD Daily Chart: Bullish Expectations May Converge at the $0.00005 Price Level

After holding steady around the $0.00007 threshold for some time, the $SPONGE market has broken to new lows, drifting toward the $0.00005 price level. For optimistic traders, this zone represents a critical support level and a potential pivot point from which a strong rebound could emerge.

The Bollinger Bands indicate heightened volatility, suggesting that traders’ reactions around this level could spark a significant price movement. If bullish momentum strengthens, the market may stage a recovery toward the $0.00008 resistance level, as buyers seek to capitalize on the current volatile conditions to redirect the price action upward.

SPONGE/USD 4-Hour Chart Outlook

The Relative Strength Index (RSI) indicates that market momentum is approaching oversold conditions. This technical signal could help strengthen bullish sentiment as traders anticipate a potential reversal. Many traders may be discouraged from taking short positions, especially as the market nears a critical support zone. It is advisable to stay alert and watch closely for the market’s reaction as the price approaches the $0.00005 level, which could determine the next major move.

Buy SPONGE/USD!

Bears coping hard pic.twitter.com/ITA0Bkj4nj

— $SPONGE (@spongeoneth) October 11, 2025

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