đ $HMSTR /USDT Technical Analysis Update!
$HMSTR is currently trading at $0.004572, marking a decline of -6.83%. The price has been under a descending trend since its peak, challenging various support levels.
Price Movement Analysis:
$HMSTR hit a 24-hour high of $0.005020 and a low of $0.004439.
It's trading below the major moving averages, indicating a bearish trend.
Technical Indicators:
The Moving Averages on a daily time frame indicate downward pressure with MA(7) at $0.004544 and MA(25) at $0.004671.
The MACD remains below the signal line, suggesting continued bearish momentum.
đŻ Price Targets to Watch:
1. First Target: $0.004800 - Near the MA(7), a minor resistance area.
2. Second Target: $0.005000 - A psychological level and close to today's high.
3. Third Target: $0.005200 - Just above the recent high, if a reversal trend begins.
Trading Strategy: Traders should monitor for any bullish signals or a price stabilization near current levels as potential entries. Consider setting stop-loss orders below the recent low at $0.004439 to mitigate risks.
đ Stay tuned for further updates and trade safely!
