$HMSTR showing signs of weakness after breakdown below $0.002560 support
š Now at $0.001488 ā down 25.90% in 24h, bears taking control after sharp selloff
š„ 24h Vol: 6.39B HMSTR | Eyes on defending next support at $0.001214
Technical Analysis:
- Critical support broken at $0.002560, triggering a rapid decline
- Large volume spike on selling pressure confirms bearish momentum
- Previous support at $0.002560 now acts as resistance
- Next major support at $0.001214 (24h low)
- Recent price action shows a vertical drop, suggesting panic selling
Targets:
šÆ Short-term: $0.001214 (downside risk: -18.4% from current)
šÆ Medium-term: $0.001000 (potential further downside if $0.001214 fails)
šÆ Bounce target: $0.002035 (possible relief rally, +36.8% upside if recovered)
Risk Assessment:
- Bearish momentum accelerating, high volatility expected
- Dead cat bounce risk at $0.001214 support
- Market sentiment turning negative after breakdown
- Confirmation needed before considering reversal
- DYOR (Do Your Own Research)
Is this the start of a deeper correction or will bulls defend the floor? DYOR
