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HMSTR analysis:

Price is currently testing the resistance area. Let's see if it can break above this level. This is a no-trade zone, and we are waiting for a breakout.

Resistance Area: $0.002270-$0.002410
#hmstr

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HMSTR

0.002605

-1.36%

141

0

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🔹 ETH/BTC is in a Reversal Zone Friends, today I opened the Ethereum/Bitcoin chart and noticed that it has reached a key support level, which is currently considered one of the strongest areas for a potential reversal. In the medium term, a reversal from this level is highly likely. 🔤 Why is it important to watch the ETH/BTC pair? The ETH/BTC pair reflects Ethereum's strength relative to Bitcoin. When ETH rises against BTC, it often signals a shift in demand from Bitcoin towards altcoins. Thus, the growth of this pair can indicate the beginning of an «altseason» — the phase we've all been eagerly awaiting. ❕That's why it's crucial to closely monitor ETH/BTC — a reversal from this support level could serve as an early signal for broader market growth🔥

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💰 Bitcoin on historically high buyback Friends, if you pay attention to the chart, you will see that bitcoin reserves have fallen to an unprecedented low, which creates a strong shortage of coins and has a positive impact on the price of the asset. 🔤 A sharp yet strong market buyback has begun, which serves as a good driver for further gains. The most interesting thing is that this happened in just a week. In a couple of days, the mood of the market has completely changed. Yes, earlier I was expecting a deeper correction. However, due to the recent news background (improved economic relations between China and the U.S.), the breakout of key resistance levels, and a sharp increase in buying volumes, the market outlook has shifted to a bullish trend. ❕ Given the current market components, the upward trend should continue in the medium term 🔥

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💸 Dominance is breaking records again Friends, Bitcoin dominance has reached its highest level since February 2021 — 64%! 🔤 The unfortunate part is that there are still no signs of a reversal, which means altcoins are likely to continue their decline. Due to Bitcoin’s overwhelming dominance, the altcoin sector simply has no room to move independently. That’s why expecting any strong growth from alts right now is unrealistic. It’s also important to note that the current situation is amplifying the capitulation effect across the altcoin market. ❕ Many traders and investors, especially newcomers, are starting to exit their positions at a loss, which only accelerates the downward movement — and, at the same time, brings us closer to the bottom 🐳

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