HYPE Price at Risk of Crash as Technicals Remain Bearish and Whales Sell - What’s Next for Traders?
HYPE faces potential freefall as chart patterns turn ominous and major holders dump positions.
Technical Breakdown
Every key indicator flashes red—support levels crumble like stale bread at a finance bro's networking event. The charts aren't just suggesting a pullback; they're screaming correction territory.
Whale Exodus Accelerates
Large wallets are fleeing faster than traditional bankers from a decentralized finance panel. The sell pressure from major holders creates a cascade effect that retail traders can't possibly offset.
Market Psychology Shift
Remember when everyone thought HYPE was the next big thing? The sentiment has flipped harder than a crypto influencer's opinion after getting paid in a different token. Fear's creeping back into the market.
Survival Strategies
Smart money isn't trying to catch the falling knife—they're watching from the sidelines with dry powder ready. Sometimes the best trade is no trade at all, a concept Wall Street still struggles with after decades of overcomplicating everything.
This could be a healthy correction or the start of something uglier. Either way, the crypto market continues proving it can humble even the most confident traders faster than you can say 'risk management'.
HYPE price analysis
On the daily chart, HYPE had dropped below a key trendline that has historically stood as a strong support line for the token since April this year.
With the drop, the token has also slipped below the 50-day simple moving average, a sign that bears are currently in control of the market.
At the same time, the upper and lower Bollinger bands have moved further apart. In technical analysis, this is a telling sign of growing market volatility.
When writing, HYPE price was approaching the lower band, which signals oversold levels, but that doesn’t mean buyers could step in just yet. Further downside remains possible if bearish momentum persists.
The Aroon indicator adds strength to this bearish outlook, with the Aroon Down at 100% while the Aroon Up is at 57.14%.
Based on this setup, $40.69, a level that aligns with the 61.8% Fibonacci retracement, currently stands as the key support level. A drop below this could see the price moving towards $35.50, the token’s August low.
On the contrary, the key resistance level stands at $52.12, marked by the 50-day SMA. A successful reclamation of this level may help push the momentum in favor of the bulls.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
