🚨⚠️ $HYPE Coin Warning: A Repeat of $MANTRA (OM)?
If we talk about $HYPE coin, in my opinion, if you look at its chart on the daily, 3-day, or even the weekly timeframe, you’ll notice that the $58 level is a very important resistance area. I believe the price is likely to get rejected from $58 and then move lower.
The most important point is that its current market capitalization is around $14 billion. There are many stronger and more established projects with significantly lower market caps, so in my view, HYPE is currently looking overbought.
I think its difficult phase could arrive very soon, similar to what happened with MANTRA (OM). Most of you probably remember how OM surged rapidly, became extremely popular, and reached very high levels. However, today the project has lost much of its momentum.
Now, the key thing to watch is whether HYPE gets rejected at $58 or successfully breaks above that resistance level.
Anyway, if anyone needs guidance, feel free to let me know in binance chat.
Trade with proper risk management.
If we talk about $HYPE coin, in my opinion, if you look at its chart on the daily, 3-day, or even the weekly timeframe, you’ll notice that the $58 level is a very important resistance area. I believe the price is likely to get rejected from $58 and then move lower.
The most important point is that its current market capitalization is around $14 billion. There are many stronger and more established projects with significantly lower market caps, so in my view, HYPE is currently looking overbought.
I think its difficult phase could arrive very soon, similar to what happened with MANTRA (OM). Most of you probably remember how OM surged rapidly, became extremely popular, and reached very high levels. However, today the project has lost much of its momentum.
Now, the key thing to watch is whether HYPE gets rejected at $58 or successfully breaks above that resistance level.
Anyway, if anyone needs guidance, feel free to let me know in binance chat.
Trade with proper risk management.