Usman Salis
After reaching highs near $57.37, HYPE coin has entered a healthy correction phase that's creating interesting entry points for patient traders. Rather than chasing the top, smart money is now looking at specific price levels where demand historically emerges. This pullback could actually set up the next leg higher if key support zones hold.
HYPE Pulls Back After Breakout
HYPE/USD is cooling off after its impressive run, now trading around $53.43 following rejection at the $57.37 high. The overall trend structure remains positive despite this temporary pause. Famous analyst Hyper_Up has outlined a strategic approach, suggesting accumulation starting at $47.66 with additional entries at deeper levels if the pullback continues.
A decisive rebound from these zones could reignite bullish momentum and set the stage for another push toward recent highs.
Chart Analysis: Key Support and Resistance
The immediate resistance sits at $57.37, which was the recent swing high that rejected price action. On the support side, several important levels emerge. The primary support at $47.66 marks where the last breakout began and aligns with a daily fair value gap. If that fails, the mid-range demand zone between $42.50 and $40.00 represents the next logical buying area based on prior market structure. The strongest safety net appears at the weekly support levels of $35.47 and $30.25, where price has historically found strong buying interest.
The bullish structure remains intact as long as HYPE holds above $47.66. However, a decisive break below $40.00 would start to challenge this positive outlook.
Why the Pullback Makes Sense
This retracement actually serves several healthy purposes. The rapid surge to $57.37 created imbalances that needed to be addressed through natural price discovery. Short-term speculators are being shaken out, which typically creates cleaner technical setups. Additionally, pullbacks into high-probability demand zones often provide the fuel for the next trending move higher.
HYPE Price Scenarios
If buyers step in around $47.66 and drive price back above $57.37, it would confirm trend continuation and likely attract momentum traders. A deeper correction that tests the $42.50–$40.00 zone wouldn't necessarily damage the bullish case, especially if demand emerges there. The main concern would be a sustained breakdown below $40.00, which could trigger a deeper correction toward the $35.47 and $30.25 weekly support cluster.
Usman Salis
