Usman Salis
With just hours remaining before the weekly candle closes, HYPE finds itself at a crossroads. The token has bounced back sharply from recent lows, but it's now running into a wall that could dictate where it heads next. Bulls are trying to keep the momentum alive, while bears lurk nearby, ready to pounce if the rally falters.
Resistance Test and Current Price Action
The chart shows how HYPE climbed back from a steep drop to the $40 support zone, recovering above $49 in the process. As trader Voided ₿ pointed out, this is where things get tricky.
Every push toward the $50–52 range has been met with selling pressure, as resistance from the mid-channel line holds firm. This hesitation keeps the market on edge, and the next few hours could be make-or-break for the asset's short-term trajectory.
Key Technical Insights
- Support Levels: The $40 zone remains the floor, where buyers stepped in previously to prevent a deeper selloff.
- Resistance Zone: The $50–52 area is acting as a ceiling, lined up with the mid-channel structure that's capping gains.
- Trend Channel: HYPE is still moving within an upward channel, with possible targets around $65–70 if resistance breaks.
- Momentum: While the rebound looks promising, volume hasn't been overwhelming, hinting that conviction among buyers isn't quite there yet.
Market Context
The uncertainty in HYPE reflects what's happening across the wider crypto market. Bitcoin's recent stabilization has given altcoins some breathing room to recover, but worries about global liquidity, macro headwinds, and shifting risk appetite continue to weigh on speculative plays. Traders remain cautious, waiting for clearer signals before committing.
Usman Salis
