Summary
• Price declined from 0.0002144 to 0.0002088, forming bearish patterns and testing key support.
• Momentum waned on RSI divergence and bearish MACD crossover, suggesting weakening bullish sentiment.
• Volatility expanded as price moved outside Bollinger Bands, with volume surging near critical levels.
• A 61.8% Fibonacci retracement aligns with 0.000208–0.000209, suggesting near-term potential support.
At 12:00 ET–1, Hamster Kombat/Tether (HMSTRUSDT) opened at 0.0002112, reached a high of 0.000217, a low of 0.0002039, and closed at 0.0002088 by 12:00 ET. The total volume over the 24-hour period was approximately 1.867 billion units, with a notional turnover of $396.4 million.
Structure and Formations
Price action over the 24-hour period displayed a bearish breakdown from a prior consolidation range. Key resistance was tested near 0.0002144–0.000217, followed by a rejection and a strong selloff. A bearish engulfing pattern formed around 18:30 ET, confirming downward momentum. The price later found support near 0.000208–0.000209, aligning with a 61.8% Fibonacci retracement of the earlier bullish swing. This suggests potential short-term support for a possible bounce, though further testing is likely.
Moving Averages and Momentum
On the 5-minute chart, the 20-period MA crossed below the 50-period MA, indicating a bearish bias. The 50-period MA also fell below the 200-period daily MA, reinforcing the downtrend.
RSI showed bearish divergence, with a high of 62 earlier in the day followed by a close near 29, signaling potential oversold conditions. MACD turned negative and crossed below the signal line, further supporting bearish momentum.
Volatility and Bollinger Bands
Volatility expanded as price broke below the lower Bollinger Band during the late ET session. The widening of the bands suggests increasing uncertainty or a shift in market sentiment. Price has since remained within the bands, but the lower boundary has become a key area to watch for potential bounce or further break.
Volume and Turnover Divergence
Volume spiked during the bearish breakdown near 18:30 ET and again during the early morning ET selloff, indicating strong distribution or panic selling. However, volume waned during the final hours, suggesting a possible exhaustion in the downtrend. Turnover also showed a divergence from price, with a sharp drop despite continued selling pressure, signaling potential short-term fatigue.
The market may test support near 0.000208–0.000209 in the next 24 hours, with a possible bounce if buyers step in. However, a break below this level could target 0.000205–0.000206. Investors should remain cautious about the bearish bias and avoid overleveraging during this high-volatility period.
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