$HYPE is now in a classic breakdown and retest setup.
In the previous updates, we discussed the breakdown of the long-term trendline that carried HYPE from $20 to nearly $80 in just six months.
A move of this magnitude rarely ends without a retest, and that's exactly what the market is attempting now.
After breaking and closing below a key support zone, price has climbed back with declining volume to retest the potential rejection zone. This is a pivotal area that will likely determine the chart's next major move.
If sellers reject this level, HYPE could see another significant leg lower. A sustained close above $60 would invalidate this bearish outlook.
#hype #BTC走势分析
In the previous updates, we discussed the breakdown of the long-term trendline that carried HYPE from $20 to nearly $80 in just six months.
A move of this magnitude rarely ends without a retest, and that's exactly what the market is attempting now.
After breaking and closing below a key support zone, price has climbed back with declining volume to retest the potential rejection zone. This is a pivotal area that will likely determine the chart's next major move.
If sellers reject this level, HYPE could see another significant leg lower. A sustained close above $60 would invalidate this bearish outlook.
#hype #BTC走势分析