HMSTR/USDT Asset Analysis đ $HMSTR $BNSOL $EIGEN
On the 4-hour chart, we see a gradual decline in the price of the HMSTR asset, which indicates a continuing bearish trend. đ The price is trapped in a descending channel, which confirms the possibility of further decline. At the moment, the price is 0.003711 USDT, while the 7-period moving average (SMA) is at 0.003869 USDT, which is higher than the current price. This indicates that the market is still moving down.
The Bollinger Bands indicator shows a narrowing of the ranges, which often indicates an imminent breakout in one of the directions. At the same time, the price is close to the lower limit, which indicates a possible upward movement, but confirmation by volumes is required. đ
Trading volumes have dropped significantly, and based on current values, there is no strong momentum for a reversal. The Parabolic SAR indicator also points to the continuation of the downward trend, being above the price.
It is important to note the support level at 0.0037 USDT. If the price breaks through this level downwards, we can expect a continuation of the decline to lower values. However, in the event of a rebound from this zone and a breakout of the upper border of the channel, growth to the resistance levels of 0.003862 USDT and 0.00397 USDT is possible. đ
In the short term, caution is warranted. Current signals show buyer weakness and bearish sentiment prevailing in the market. đ»
Resume:
Current price: 0.003711 USDT
Support: 0.0037 USDT
Resistance: 0.00397 USDT
The bearish trend continues, but a reversal is possible with suitable volume and a breakout of the upper channel border. đ§