Binance U.S. Sparks HYPE Token Rally—Early Stages of a Major Move?

Binance U.S. just lit the fuse on HYPE token's explosive rally—but is this the real deal or just another crypto pump waiting to deflate?

Traders are piling in after the listing, pushing volumes to unsustainable levels while whispering about 'the next BNB.' Meanwhile, institutional players smirk behind their spreadsheets.

Key drivers:

- Exchange liquidity surge bypasses typical OTC bottlenecks

- Retail FOMO hits critical mass (again)

- Whales accumulating at sub-ATH levels

One thing's certain: when the world's largest crypto fiat ramp gets involved, even vaporware starts looking like a blue-chip. Until the next SEC filing, anyway.

HYPE nears price discovery zone

Source: HYPE/USDT, TradingView 

The altcoin hit an all-time high of $42.2 on KuCoin exchange last December. At press time, it was close to retesting this level. In May, HYPE tagged $40, but the RSI was overheated, triggering a cool-off to $30. 

However, in June, the renewed risk-on sentiment and the Binance U.S listing triggered a 20% rebound. However, once again, the RSI seemed to be on the verge of flashing an overheated signal. 

Besides, the OBV (On Balance Volume) was at a resistance level formed in February. Unless the OBV surges higher, HYPE may cool off again. If so, the potential pullback could offer new buying opportunities at $30 (this week’s springboard) or the 50-day EMA (Exponential Moving Average, WHITE zone). 

The 50-day EMA, around $27, was also above the 50% Fibonacci retracement level, making it a potential inflection point in case of an extended retracement. In such a scenario, $40 WOULD be the take-profit level, offering about 28% or 50% potential gains. 

Why the $30 level is crucial

Source: CoinGlass

The aforementioned idea was supported by CoinGlass’s 2-week liquidation heatmap. There appeared to be a massive liquidity and price magnet area around $28- $30 (bright orange levels). These were Leveraged longs that could attract the price action in case of a liquidation hunt, offering discounted re-entry for new buyers. 

However, this bullish set-up will be invalidated if HYPE drops below $30 and the moving averages.  

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion