One of the most interesting tokens of the HYPE cycle. It initially fell to zero, then rebounded and began to set new all-time highs one after another. During corrections, it even outperformed Bitcoin.
But all good things come to an end sooner or later, and for HYPE, the time has probably come to cool down, and here's why:
➡️ HYPE broke its ascending flag pattern for the first time in four months, signaling a potential trend reversal.
➡️ Throughout the last month, HYPE's growth has been accompanied by a divergence in purchase volumes, indicating declining interest from buyers.
➡️ Money Flow, although in harmony with the scene, began a major fix of positions at the last ATH of $51, and in just a couple of days, the indicator fell into negative territory. Potentially breaking through its sloping support.
➡️ The main areas of interest are at the top, apparently attracting limit orders for shorts. And the first major support level has already been broken at $40.
➡️ The next major support is at $30, where we can expect an upward rebound.
📌 Conclusion:
HYPE has been growing for a very long time, against all odds, against the entire market. And the moment had to come when profit-taking would begin. $50 is a major psychological level, and liquidity has begun to leak out noticeably.
So perhaps this stage is already upon us. But I would not rush to look for buying opportunities, even on the spot. The token is very young, and we do not yet know its real price; it has been both $50 and $9. It is worth giving it time to trade so that we can find out its fair price over time.
Good health and big profits to all! 🔥
But all good things come to an end sooner or later, and for HYPE, the time has probably come to cool down, and here's why:
➡️ HYPE broke its ascending flag pattern for the first time in four months, signaling a potential trend reversal.
➡️ Throughout the last month, HYPE's growth has been accompanied by a divergence in purchase volumes, indicating declining interest from buyers.
➡️ Money Flow, although in harmony with the scene, began a major fix of positions at the last ATH of $51, and in just a couple of days, the indicator fell into negative territory. Potentially breaking through its sloping support.
➡️ The main areas of interest are at the top, apparently attracting limit orders for shorts. And the first major support level has already been broken at $40.
➡️ The next major support is at $30, where we can expect an upward rebound.
📌 Conclusion:
HYPE has been growing for a very long time, against all odds, against the entire market. And the moment had to come when profit-taking would begin. $50 is a major psychological level, and liquidity has begun to leak out noticeably.
So perhaps this stage is already upon us. But I would not rush to look for buying opportunities, even on the spot. The token is very young, and we do not yet know its real price; it has been both $50 and $9. It is worth giving it time to trade so that we can find out its fair price over time.
Good health and big profits to all! 🔥
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.