The cryptocurrency market experiences a bearish wave as Bitcoin’s weakness above $66,500 diminishes hopes of the highly-anticipated “Uptober.”
The downward momentum has seen top altcoins bleeding massively, with Telegram-based Hamster Kombat plunging 13% on its daily chart to trade at $0.003343.
Nevertheless, HMSTR remains poised for robust recoveries, with bulls targeting $0.1 with the forthcoming Season 2 game launch.
HMSTR ready for revival on Season 2 debut
Hamster Kombat is again in the spotlight as enthusiasts await the much-anticipated Season 2 overhaul.
The tap-to-earn game will witness various shifts, with all CEOs handling new businesses, including hiring employees, building new and viral games, and creating a gaming ecosystem.
HAMSTERS ARE THE NEW WHALES
🤩 The new chapter of Hamster Kombat is just around the corner, and all the CEOs will be managing new businesses very soon.
🧡 Together we will be building a gaming platform, hiring employees, and producing new gaming hits!
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The Telegram game gained massive popularity in Season 1, with enthusiasts attracted by Hamster Kombat’s fast-paced actions.
Hamster Kombat launched in March this year, and its simple, addictive gameplay attracted over 300 million players globally.
The game became viral quickly, rivaling other Ton blockchain games such as Pixelverse and Toncoin.
However, hiccups emerged after the highly anticipated airdrop disappointed users.
Nonetheless, fans readily awaited the $HMSTR launch – which failed to satisfy early adopters as the altcoin endured massive plunges after the official debut.
HMSTR saw a sudden 20% drawdown after hitting the $0.015 high. Meanwhile, the frustrated community triggered more declines towards the current values of $0.003343.
Despite the unwelcoming debut, Hamster Kombat has engaged gamers with functionalities such as Combo Card, Daily Cipher Codes challenges, and Diamond rewards.
Players can complete in-game tasks to unlock lucrative rewards and receive up to 5 million HMSTR tokens.
Meanwhile, Season 2 promises more features to the millions of gamers eagerly awaiting.
Set for the late October 2024 launch, Hamster’s S2 brings advanced features to bolster user engagement. Such developments bode well for HMSTR price recoveries.
HMSTR price movement
The altcoin has experienced significant declines in the past few sessions, with its 3-week price action printing a descending wedge setup.
The formation suggested fading bearish influence and possible upside breakouts.
Nevertheless, the latest broad market retracement saw HMSTR plunging beneath the pattern’s support line, threatening continued dips.
HMSTR trades at $0.003343 after losing nearly 13% in the past day.
Source – Hamster Kombat
Meanwhile, the altcoin presents a long tail rejection candlestick around the $0.33 mark, indicating buyer influence in this region.
The renewed optimism could push HMSTR into the wedge setup, though a solid break beyond the upper trendline remains vital for trend reversals.
The upcoming Season 2 game launch would be crucial in reversing Hamster’s trajectory.
Reclaiming the initial excitement could see the altcoin’s price exploding to early-stage peaks.
A solid bullish resurgence could see the altcoin skyrocketing toward $0.1 – a staggering 2,890% upswing from current prices of $0.003343.
Nevertheless, HMSTR’s prevailing trajectory reveals significant seller dominance, with the 20-, 50-, and 100 Exponential Moving Averages’ bearish confluence signaling more plunges in the near term.
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