$HYPE near 92 ground down for a whole day
The 15-minute and 1-hour MACD both turned bullish (flipped red). It feels like it might bounce upward. But the 4-hour chart is still a dead cross, and the green bars haven’t fully closed out, so the larger timeframe is still in adjustment. For resistance, first look at 93.5 to 94; for support, 90 to 91.
The contract data is more interesting: open interest rebounded from the morning low to around 8.3M. Based on the large holders’ long/short ratio by positioning, it’s around 1.8, slightly bullish.
However, the basis is negative, and the funding rate is also -0.0056%. Futures are cheaper than spot, which suggests market sentiment isn’t particularly euphoric. The active buy/sell volume is back-and-forth, with no overwhelming one-sided advantage.
My plan isn’t to jump in right away. I’ll wait for this 4-hour adjustment wave to finish. If it can consolidate sideways with lower volume around 90, then I’ll consider trying with a small position.
Personal review only; not investment advice
#hype $HYPE
The 15-minute and 1-hour MACD both turned bullish (flipped red). It feels like it might bounce upward. But the 4-hour chart is still a dead cross, and the green bars haven’t fully closed out, so the larger timeframe is still in adjustment. For resistance, first look at 93.5 to 94; for support, 90 to 91.
The contract data is more interesting: open interest rebounded from the morning low to around 8.3M. Based on the large holders’ long/short ratio by positioning, it’s around 1.8, slightly bullish.
However, the basis is negative, and the funding rate is also -0.0056%. Futures are cheaper than spot, which suggests market sentiment isn’t particularly euphoric. The active buy/sell volume is back-and-forth, with no overwhelming one-sided advantage.
My plan isn’t to jump in right away. I’ll wait for this 4-hour adjustment wave to finish. If it can consolidate sideways with lower volume around 90, then I’ll consider trying with a small position.
Personal review only; not investment advice
#hype $HYPE
