HMSTR experienced significant price volatility in recent hours. After a period of stable trading around the 0.002 mark, the currency saw a sharp drop at hour 13 where the price fell from 0.002005 to 0.001421, a decrease of nearly 29%.
Technical analysis
Sudden price collapse
During hour 13, the price sharply dropped from 0.002005 to 0.001421
High volatility
The price reached a low of 0.001226 during the same hour
Attempt to recover
After the decline, the price gradually rose from 0.001417 to 0.001502 in the last 7 hours
Exceptional trading volume
Hour 13 recorded a massive trading volume of 143,676.19, which is more than 5 times the average of other hours
Impactful news
According to circulating news, HMSTR (Hamster Kombat project) has seen a significant decline in network activity. Reports indicate that transaction volume on the project's Layer-2 network dropped by 99% just two weeks after its launch.
Some sources also indicate that HMSTR saw a short-term spike reaching 0.00256 before immediately dropping to 0.0012, a decrease exceeding 50%.
Short-term forecasts
With the price currently stabilizing around 0.0015, it seems that the currency is in a rebalancing phase after the price shock. However, caution is advised as high volatility and elevated volume may indicate ongoing instability.
Summary
HMSTR faces significant challenges in maintaining its initial momentum, especially with declining network activity. Investors on the BingX platform should closely monitor project developments and support at levels 0.0014-0.0013 and resistance at 0.0016-0.0017 to make informed trading decisions.
The information mentioned above has been researched and summarized through personal effort, and does not constitute investment advice.
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