HMSTR/USDT Analysis: $HMSTR
The 6-hour chart shows that the asset is in a downtrend, forming a descending wedge đ. The price is squeezed between the resistance and support lines, and it seems that the asset is preparing for a potential breakout.
đ Current levels:
Resistance at the upper boundary of the wedge is around 0.00439 USDT.
Support is at 0.00352 USDT.
Indicators also point to uncertainty:
The Ichimoku indicator shows a descending cloud that is creating pressure on the price from above.
MAs (moving averages) are located above the price in the short term, indicating local selling pressure.
Bollinger Bands are narrowing, which could foreshadow volatile movement in the near future đ„.
In the short term, a test of the lower boundary at 0.00352 is possible, but if there is a breakout of resistance, we can expect movement to 0.0044 and higher đ.
If it consolidates below 0.00352, the asset may continue to fall to lower levels, possibly to 0.0030 USDT â.
Be careful with risks, as a breakout from the wedge can lead to a sharp move in either direction.