The cryptocurrency market is witnessing renewed selling pressure in the end week of October as Bitcoin price teases breakdown below $65,000. The bearish momentum has struck most major altcoins, including the telegram-hit game Hamster Kombat, registering a 12% intraday loss to trade at $0.06. However, with the upcoming season 2, the Hamster Kombat price holds an opportunity for a major reversal to $0.1
Can Hamster Kombat Price Hit $0.1 After Season 2 Launch?
Hamster Kombat is gearing up for an exciting overhaul in its highly anticipated Season 2. The viral telegram game is set to shift its focus, with players now stepping into the shoes of CEOs of game development studios.Â
In Season 1, gamers managed a cryptocurrency exchange, but the new season will bring more complex objectives like hiring employees, developing hit games, and ultimately building a successful gaming platform.
The game’s OG players will be happy to know that clicker elements will continue to be part of the gameplay. Moreover, the developers plan to implement a payment system, token buybacks, and NFT-based assets for in-game rewards.Â
Season two is set to launch at the end of October 2024. The new features will boost user engagement with the HMSTR coin and drive the Hamster Kombat price for a $0.1 rally.
HMSTR Coin Breaks Support Line: Is a Major Correction Ahead?
In the last three weeks, the HMSTR coin has shown a steady downtrend amid a falling wedge pattern formation. Generally, the chart setup indicates diminishing bearish momentum and offers a bullish breakout from the overhead trendline.
However, with a recent market pullback, the Hamster Kombat price gave a bearish breakdown from the bottom support trendline. If sustained, the breakdown below pushes the asset for a $0.003 breakdown.Â
A bearish confluence between the 4-hour exponential moving average (20, 50, and 100) could assist sellers in driving a prolonged correction trend.
On the contrary, the Hamster Kombat price shows long tail rejection candles at $0.33, projecting the buyers are defending the bottom support. This renewed bullish momentum could push the asset back to the wedge pattern but a potential breakout from the overhead trendline is crucial to signal trend reversal.
Frequently Asked Questions (FAQs)
With the release of Season 2, which includes new features such as game development studios and NFT-based rewards, the Hamster Kombat (HMSTR) token holds potential for a price rally to $0.1.
The falling wedge pattern observed over the last three weeks suggests diminishing bearish momentum.
In Season 2, players will take on the role of CEOs of game development studios, managing employees and producing hit games
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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