Still Holding Your Hamster Kombat Tokens? You Might Be In For A Nice Surprise Soon
02 Outubro 2024 - 8:30PM
NEWSBTC
Hamster Kombat burst into the trading scene in September after a
long-running airdrop farming event. Despite all of the hype leading
up to the launch of the token, the airdrop did come out to be
disappointing for investors, even though it listed at around a $500
million. Since then, the price has struggled against the bearish
headwinds, losing around 43% of its value. However, this decline
may be coming to an end according to one analyst, who sees a
bullish future for the HMSTR token. Hamster Kombat Develops Bullish
Indicators Given the current state of the Hamster Kombat token and
the consistent decline, it seemed at first that this was a failed
launch. However, crypto analyst Saeed Sheikh sees an opportunity
where many sees losses. In an analysis posted on the TradingView
website, Sheikh explained that the current indicators could
actually be bullish for the Hamster Kombat price. Related Reading:
Bitcoin Bull Market Not Over: CryptoQuant CEO Reveals Where We Are
This Cycle As the crypto analyst explains in the post, the decline
in the Hamster Kombat price has pushed the altcoin into oversold
territory. This explains the sharp decline in price over the last
month. But it is also bullish for the price, especially a popular
altcoin like Hamster Kombat. When an asset is in oversold
territory, it often means that it is due for a recovery. This is
because the sellers will have exhausted their stash and this leaves
only the holders in charge. As a result, support is often
established for the price, providing a bounce point for the next
recovery. If this is the case and the Hamster Kombat sellers are
nearing exhaustion as it enters oversold territory, then Hamster
Kombat could be forming support somewhere around $0.005. In this
case, this would be the bounce-off point for the next rally and
recover its losses from September. Where Is The Price Headed? Going
by the crypto analyst’s chart, the Hamster Kombat price could more
than double from here if it plays out correctly. There are multiple
major targets to hit and overcome as they carry the most resistance
for the altcoin from here. Related Reading: Major Catalyst That
Could Drive Bitcoin To New ATH In Q4 Emerges The first target to
hit is $0.009116 at the 0.382 Fibonacci level. Here is the first
resistance, but arguably the most easiest to conquer from here.
Next is the $0.011 target at the 0.236 Fibonacci level. Last but
not least is the $0.014149 target, which is the strongest
resistance. Naturally, as the price increases, so does the
resistance from bears. Given the current position of the Hamster
Kombat price at the time of this writing, hitting the very last
target at $0.014149 would mean a more than 100% increase. However,
this move is also largely dependent on how the Bitcoin price sways
the crypto market, according to the crypto analyst. Featured image
created with Dall.E, chart from Tradingview.com
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