đš $HMSTR /USDT Technical Analysis Update đš
Current Price: $0.006619
HMSTR/USDT has experienced a notable downtrend as illustrated by the descending trendline, reflecting selling pressure. The pair is now consolidating within a range, showing signs of potential stabilization.
Resistance Levels:
R1: $0.006768 (7-day moving average)
R2: $0.006822 (25-day moving average)
R3: $0.006979 (99-day moving average)
Support Level:
S1: $0.006079 (recent low and potential floor)
Trade Strategy:
Long Trade: Consider a position if HMSTR breaches the $0.006768 level (R1), with initial targets set at $0.006822 (R2), and $0.006979 (R3), followed by an ambitious target at $0.007100 if momentum continues.
Short Trade Consideration: A move below $0.006079 could validate a short strategy, aiming for lower supports around $0.006000 or further if the downtrend resumes.
đ Analysis: The market seems to be in a consolidation phase within the yellow box, potentially gearing up for a breakout or breakdown. Traders should watch for a break above the MA(25) line for a bullish signal or a break below the recent low for bearish confirmation.
