Alex Dudov
⬤ HYPE has taken a beating lately, dropping hard after getting rejected near the $50 mark. The crypto asset, which trades against USDT, went through exactly the kind of technical breakdown traders were watching for. After spending months climbing higher through mid-2025, the token finally ran out of steam at that key resistance zone and started its descent. What followed was a textbook short-side move that played out almost perfectly.
⬤ Looking at the price action, HYPE had been riding an ascending channel nicely, putting in higher highs and looking strong. But here's the thing—every time it approached the channel's upper boundary, it got smacked down. When it finally broke below the $36-$35 support area, things got ugly fast. The selling pressure ramped up, and price just fell through the floor. From that $50 entry point down to around $22, we're talking about a massive 53% haircut. Old support levels? They're now acting as resistance, which is never a good sign when you're looking for a bounce.
⬤ The chart's showing something interesting though. There's a solid bullish order block and fair value gap sitting between $20 and $15—basically a zone where buyers might finally step in. Whether HYPE can hold these levels or keeps bleeding lower is the million-dollar question right now. This range could be where smart money starts accumulating, but only if the downtrend takes a breather.
⬤ This whole situation is a reminder of how quickly leveraged positions can get wrecked in crypto when key levels break. HYPE went from trending nicely to correcting hard, and volatility has been through the roof. Now that we're approaching these historically important demand zones, the focus is shifting from "how much lower can it go" to "will it actually stabilize here." How price behaves in this $20-$15 window could tell us a lot about whether risk appetite is coming back to speculative alts or if there's more pain ahead.
Alex Dudov
