The Hamster Kombat price plunged 6% in the last 24 hours to trade at $0.005856 as of 00:40 a.m. EST despite trading volume surging 77% to $338 million.
Hamster Kombat Price Bearish, Aims For A Bullish Trend Reversal
The Hamster Kombat price action shows a downward channel pattern, which typically suggests a bearish trend. Moreover, the price of Hamster Kombat is moving between the falling wedge pattern, creating lower highs and lower lows, a clear signal of a downward movement.
HMSTR price now trades below the 50-day Simple Moving Average (SMA), which indicates that the short-term trend is bearish, as the price is struggling to break above the SMA at $0.006121, according to data from GeckoTerminal.
The RSI is at 50.40, which is in the neutral zone (neither overbought nor oversold). This indicates that the price is at an equilibrium point where it could go either way, depending on future momentum. Itâs important to note that the RSI has recovered from the oversold region around the 40 mark, hinting at a potential reversal or consolidation phase.
If the bearish sentiments prevail, the price of Hamster Kombat could keep on dropping, with the next support zone slotted at around $0.0055.
HMSTRUSD Chart Analysis Source: GeckoTerminal.com
Meanwhile, the MACD is currently showing some bullish prospects for the price of Hamster Kombat, with the token now soaring from the $0.0054 support towards the upper boundary of the wedge. The green bars on the histogram also show that HMSTR could be headed towards a bullish positive momentum.
If the market turns positive, the HMSTR price could soar towards a bullish trend over the wedge as the bulls target the next support zone at $0.0070.
Meanwhile, investors might consider as an alternative the Sponge V2 (SPONGE V2) token, which YouTuber Jacob Bury, with over 42K subscribers, says has the potential to soar 100X.
Last Chance To Buy Sponge V2 Before Exchange Listing
If you missed the 100x surge after Sponge V1 launched last year, you have a new opportunity with Sponge V2.
The team phased out Sponge in early February, with over 13,000 holders moving to the more secure and cost-efficient V2 on the Polygon Network. Sponge V2 is an upgraded version of its predecessor, promising more significant rewards and a robust ecosystem.
Yeah #Bitcoin is cool.
But $SPONGE is cooler. đ§œđŠ pic.twitter.com/175bQlioxD
â $SPONGE (@spongeoneth) August 9, 2024
Sponge V2âs roadmap is filled with promising developments, including upcoming exchange listings that could help bolster its price.
Traders also have an opportunity to earn passive income through their tokens. They can buy and stake $SPONGE V2 tokens, earning an impressive annual percentage yield (APY) of 34% on the Polygon Network.
To join the presale, you can buy Sponge V2 tokens on the official website here. Link your digital wallet to swap your ETH or USDT for Sponge V2 tokens. You can also buy directly using your bank card.
Related News
Best Cryptocurrencies to Invest in Right Now September 29 â XRP, VeChain, BNB
Expert Predicts Explosive Potential for the First Multi Meme Coin Staking Presale â Crypto All-Stars
10+ Best Coins to Buy on Uniswap in 2024
