In view of increased bearish sentiment in the crypto market, top cryptocurrencies have lost significant value in their respective portfolios. Following this, the most hyped memecoin, Hamster Kombat (HMSTR) has experienced a major plunge in valuation within a short period.
In this article, we have covered the market sentiments, and possible short-term price targets of the Hamster Kombat (HMSTR) crypto token.
HMSTR Memecoin Price Action
With a jump of ~10% in the past 24 hours with a trading volume of $109.46 million, the Hamster Kombat price has reclaimed the $0.0050 mark. However, it has dropped 23.37% over the past seven days and ~49% since its inception.
With a trading price of $0.005005, a circulating supply of 64,375,000,000 HMSTR tokens, and a market capitalization of $322.208 million, it has secured the 157th position in the global crypto list.
The Relative Strength Index (RSI) has failed to surpass its overbought range in the 1D time frame. This has resulted in it recording a sharp drop in the price chart. Further, with its average trendline experiencing a bearish convergence, the HMSTR price hints at a bearish outlook in the coming time.
Further, the SMA indicator is on the verge of recording a negative crossover in the Hamster Kombat price chart in the 1D time frame. This suggests a weak bullish sentiment for the meme coin in the cryptocurrency market.
Will Hamster Coin Price Increase?
If the project regains momentum, the HMSTR price could retest its resistance level of $0.006230. Maintaining the price at that level could set the stage for the Hamster Kombat price to head toward its upper resistance level of $0.008880.
On the flip side, if the bearish sentiment intensifies, the HMSTR coin price could plunge toward its support level of $0.003611 during the upcoming weeks.
Keen on the price targets of the HMSTR token? Read our Hamster Kombat Price Prediction for a peek into the future!
