Hamster Kombat (HMSTR) is currently in neutral momentum and bearish structure in the short term. However, if there is an increase in demand and the price breaks above $0.0049, this will open up a buying opportunity, with a target of $0.0056.
Bearish market structure and price zone formation
Since September 28, HMSTR has fallen 30.7%. Over the past 48 hours, the price has stabilized above the $0.004 support level, although the trading volume of the token, with a market capitalization of $300 million, remains below its average for the most recent trading day. This needs to change before a bullish reversal can be expected.
The price dropped below $0.0046 on Thursday, confirming the bearish market structure for the time frame. The trend over the past week has also been bearish. The On-Balance Volume (OBV) has not broken a local top, which would be the first strong signal that a move up is likely.
The RSI has been hovering around the neutral zone of 50 for the past two days, indicating indecision in the market. If Bitcoin (BTC) rebounds from the $60,000 support level, this could revive the altcoin market and give HMSTR investors more confidence to buy in larger quantities. A breakout above $0.0049 and a retest of this zone would create a buying opportunity targeting the lower highs that HMSTR has recorded over the past week.
Speculation on Hamster Kombat is on the rise
Source: Coinalyze
Over the past 12 hours, OI (Open Interest) has increased from $44.7 million to $49.58 million. During this time, the HMSTR token tested the $0.0045 support level and bounced 2%. The funding rate remains positive, indicating bullish speculation.
Despite the optimism, the CVD (Cumulative Volume Delta) indicator shows a steady decline, so Hamster Kombat is likely to fluctuate between $0.0045 and $0.00494 in the next few days.
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