Hamster Kombat (HMSTR) Approaches Key Level — Breakout Looms

Key Takeaways

• Descending trendline acting as major Resistance
• Elliott Wave structure hints at a new impulse formation
• RSI shows initial signs of bullish divergence

Hamster Kombat (HMSTR) exhibits a potential reversal structure after a prolonged corrective phase.

The 4-hour chart suggests a more significant wave completion, while the 1-hour chart indicates an emerging impulse wave strucResistanceresistance and support levels will determine the short-term price trajectory.

HMSTR Price Analysis 

The 4-hour chart of HMSTR reveals a long-term descending trendline that has constrained price action since the previous peak on Wave (b) at $0.0062307 on Nov. 10.

The corrective wave structure appears to be completed, with the final leg (wave e) potentially marking the end of a more significant wave formation. 

The price bounced from the $0.0023197 support on Jan. 27, a key horizontal zone that has previously triggered strong reactions.

The Relative Strength Index (RSI) on the 4-hour chart shows an initial rebound from oversold conditions, suggesting potential buyer interest.

However, the price remains below the key dResistanceresistance, which has previously led to multiple rejections.

A sustained breakout above this trendline could signal the start of a more significant bullish reversal.

If the price successfully breResistanceresistance, it could target previous structural highs.

However, failure to do so may result in another rejection, leading to a retest of the recent lows.

The overall structure suggests a decision point approaching, with a breakout likely defining the next significant move.

HMSTR Price Prediction

The 1-hour chart indicates an emerging five-wave impulse structure following a potential bottom formation at $0.0023197 on Jan 27. The price is progressing through Wave (iii), suggesting further upside if momentum sustains.

The structure aligns with Fibonacci extensions, where Wave (iii) could extend towards $0.0029 before experiencing a minor retracement in Wave (iv).

Given the bullish structure, Wave (v) could push the price further toward the key descending resistance line.

If a breakout occurs, this could validate a trend reversal, potentially targeting the $0.0030 level.

However, rejection at this zone may lead to a corrective decline, with $0.0025, the low of Wave (ii), acting as the immediate support level.

The RSI on the lower time frame also confirms strengthening momentum, but traders should monitor for any bearish divergence as the price aResistanceresistance.

If Wave (iv) holds above $0.0025, the structure remains intact, supporting a higher push.

Key Levels to Watch

• ResistanceResistance: $0.0029 (Wave (iii) target)
• SiResistanceResistance: $0.0030 (descending trendline breakout zone)
• ImmediSupportport: $0.0025 (Wave (ii) low)
• CritiSupportport: $0.0023197 (multi-month horizonSupportport)
• Short-Term Bullish Target: Above $0.0031 if Wave (v) extends
• Invalidation Zone: Below $0.0023, signaling a bearish continuation