Peter Smith
HYPE is trading at $43.57, sitting just below a crucial $44.40 resistance level that could determine its next major move. This technical setup represents a classic make-or-break moment as the level perfectly aligns with the Fibonacci 0.618 retracement and a heavily contested supply zone.
The cryptocurrency has shown impressive resilience after bouncing from its August lows, but now faces its biggest test yet. Bulls are eyeing a potential breakout to $46.81, while bears are waiting to defend this critical resistance.
Bulls Ready to Strike: $46.81 Target in Sight
If HYPE manages to punch through the $44.40 ceiling with conviction, we're looking at a potential 14% surge to $46.81 in the short term. The technical picture gets even more exciting with the possibility of extending gains toward $49.88, representing a solid 25% upside from current levels.
The key here is volume – any breakout attempt needs to be backed by solid buying pressure to stick. Without it, false breakouts could get rejected at this exact level.
Downside Risks: Where Support Kicks In
If the bulls fail to deliver and HYPE gets rejected again, the first line of defense sits at $42.72. Lose that, and we're looking at a potential slide toward the $41.03–$40.75 support cluster.
The real danger zone? A breakdown below $38.48 would completely flip the script, turning the market structure bearish and opening the door for deeper losses.
Peter Smith
