🔥$HYPE Strongly Bullish but overextended
Recent 1h candles show significant volume expansion during the rally, confirming strong buying interest. However, the latest candle shows drastically reduced volume, suggesting a potential loss of momentum or consolidation.
Fund Flow: Strong and consistent net inflows into contracts across all timeframes (24H: +82.8M USDT, 3D: +90M USDT). This is a powerful bullish signal, indicating sustained leverage buying.
Conversely, spot markets show persistent outflows (24H: -9.6M USDT, 7D: -33.7M USDT), suggesting the rally is primarily driven by futures market speculation rather than spot accumulation. This creates a divergence that often leads to increased volatility.
Entry long $HYPE
• Wait for a pullback towards the key support zone 30.1- 31.7 for a better risk-reward
• A break and close above 34.3 (resistance) on high volume could signal a continuation, but entering here carries high risk.
Stop-Loss: For long entry near $30.1, a stop below $28.9. For any entry near the current price, a stop below $31.4 (previous resistance turned support)
Target Price $HYPE : 35.7 - 38.4
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