Eseandre Mordi
⬤ HYPE is pushing into a critical technical zone as it tests a key resistance level. The altcoin is trying to break through an important horizontal barrier that's rejected multiple recovery attempts. The latest 12-hour chart shows the token lifting from a rounded bottom and retesting a resistance cluster that's blocked upward momentum several times.
⬤ The chart reveals cyclical movements, with HYPE forming multiple rounded tops and bottoms over recent months. Clear support and resistance levels show the token struggling to hold strength above the upper range near the mid-40s. Current trading puts HYPE around the $35-36 zone, where sellers are defending the next resistance band. Repeated failures to reclaim these levels highlight how persistent the broader downward structure remains, even with short-term bounces from established support.
⬤ Market sentiment is split. Some traders see a potential recovery building, while others expect another lower high. The technical pattern suggests the broader trend of declining peaks hasn't been broken yet. Buyers keep showing up at local support though, preventing deeper drops and keeping the asset in a consolidating range. The repeated interaction with the same horizontal levels signals a tightening structure, making this resistance test critical.
⬤ HYPE's performance at this level will shape expectations across the altcoin market. A clean break above resistance could shift sentiment and strengthen the case for a broader mid-cap rebound. Failing to reclaim the level would confirm sellers remain in control and the downtrend may continue.
Eseandre Mordi
