HYPE Falls Back After Hitting $35.5 Resistance as Momentum Fades

HYPE lost momentum after it failed to break through the 0.75 retracement zone close to $35.5. Early signs of distribution appeared while the asset moves between major support and resistance levels.

⬤ HYPE rose from below 30 USD to about 35.5 USD then stalled as sellers appeared at the top of the range. The price failed at the 0.75 Fibonacci retracement, where the RSI lost upward speed. Trading now moves sideways between the 0.618 and 0.75 Fibonacci levels - no clear breakout has occurred in either direction.

⬤ The chart shows that large holders are quietly unloading while the price stays high - yet no clean break in market structure has appeared. HYPE remains above its former support near 31 USD, the level that launched the latest bounce. That 31 USD zone is the last defence for buyers who want to stop further decline.

⬤ The price now faces a clear technical choice. Repeated rejections at resistance plus weakening momentum invite fresh selling. A firm daily close above 35.5 USD would flip the bias back toward further gains. With volatility high near 35 USD, the next direction hinges on whether buyers retake control or sellers keep control at resistance.

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Peter Smith E-mail

Peter Smith is a former operations manager in online casinos and a consultant for several crypto projects. With deep expertise in crypto, blockchain and iGaming, he writes insightful content on crypto, gambling trends, and player safety.