Usman Salis
HYPE has been on a tear lately, but even the strongest trends need to catch their breath. After pushing toward $57, the token is now trading around $52.65 and showing signs that a pullback might be brewing. This isn't necessarily bad news - it's actually how healthy bull markets work.
Key Support Levels to Watch:
The price action has been textbook bullish with a clear pattern of higher highs and higher lows. As HaydenSMC pointed out, this kind of retracement is totally normal and often sets up the next leg higher.
The key is understanding where the smart money might jump back in.
- Breaker block zone: $47-50 - This area coincides with a fair value gap that could act as strong support
- Critical floor: $47-48 - If price holds above here, the bullish case stays intact
- Entry opportunity: $47-50 zone - Could offer favorable risk/reward for the next move up
The daily chart is painting a pretty clear picture. That breaker block around $47-50 lines up perfectly with the fair value gap, creating what traders call a "confluence zone." These areas often act like magnets for price, giving buyers a second chance to get in before the next rally kicks off.
What keeps me bullish on HYPE is that the underlying structure hasn't broken. We're still making higher highs and higher lows, which is the definition of an uptrend. The token is holding well above its previous breakout levels, and pullbacks like this often shake out weak hands while attracting fresh capital.
Conclusion
HYPE looks ready for a short-term pullback, but that's exactly what you want to see in a strong uptrend. If that $47-50 support zone holds up, we could be looking at another run toward new highs beyond $57. The market is just taking a breather before the next move.
Usman Salis
