Usman Salis
⬤ HYPE has been steadily sliding toward the mid-$20 range, matching up with a technical pullback shown on current charts. The drop comes after multiple failed attempts to hold above key Fibonacci levels, pushing price toward the green demand zone sitting between roughly $25 and $20. Despite being one of the most talked-about projects in crypto right now, the near-term price action points to more downside ahead.
⬤ Charts show HYPE losing steam after getting rejected from important technical spots—the 0.382 retracement at $40.20 and the 0.5 level at $34.30. Price is now heading toward the 0.618 level around $28.40, where the next big liquidity pocket shows up on the volume profile. Several factors are weighing on performance: upcoming token unlocks, weaker overall market volumes, and incentive changes linked to new token generation events. These pressures suggest HYPE could keep dropping toward the lower end of that support band.
⬤ Looking at the structure, the chart shows a return to the same accumulation area that sparked a major rally earlier this year. This zone could once again become attractive if selling pressure lets up. The idea that entries below $25 might offer a better accumulation opportunity makes sense given recent trend behavior and where volume is positioned.
⬤ This matters because HYPE's move into this historical support region will likely decide whether the asset can find stability or if more downside volatility is coming. How price reacts in this zone will shape short-term sentiment and influence what comes next for one of the market's most closely watched tokens.
Usman Salis
