$14.8M in HYPE buy orders parked at $77
HYPE is currently at $80.91. Between $77 and $78.12, there are 10 buy orders totaling 190,600 tokens, worth about $14.8 million—3.5% to 4.8% below the current price. Of that, $10.8 million was added early this morning, accounting for 73%. Two orders at $77.44 and $77.51 are each worth $4 million; two at $78.12 total $4.689 million; and an order at $77.149 worth $386,000 is linked to an existing long adding to its position. About 88% of the orders are new longs or additions to existing positions, while 12% are covering orders from two existing shorts.
The addresses behind these orders currently hold almost no positions, and all the orders are parked below, waiting for the price to drop. There isn't much immediate buy-side depth above, so a short-term push higher could easily be met with selling pressure and pushed back toward $77.50 to test liquidity. If the $8 million wall at $77.44 is swept and the price doesn't quickly recover, there's little liquidity below, and it could drift down toward $74–$75 to find the next support level. If it holds, the $10.8 million in new orders will form a cost basis for the bulls, leaving room for a rebound to $84–$85. The 12% of orders from shorts looking to cover near $77 could trigger a brief spike; the strength of the rebound will depend on how quickly those orders get filled.
For those of you holding longs, are you placing your stop-loss below $77 or below $74?
$HYPE $BTC $SOL
HYPE is currently at $80.91. Between $77 and $78.12, there are 10 buy orders totaling 190,600 tokens, worth about $14.8 million—3.5% to 4.8% below the current price. Of that, $10.8 million was added early this morning, accounting for 73%. Two orders at $77.44 and $77.51 are each worth $4 million; two at $78.12 total $4.689 million; and an order at $77.149 worth $386,000 is linked to an existing long adding to its position. About 88% of the orders are new longs or additions to existing positions, while 12% are covering orders from two existing shorts.
The addresses behind these orders currently hold almost no positions, and all the orders are parked below, waiting for the price to drop. There isn't much immediate buy-side depth above, so a short-term push higher could easily be met with selling pressure and pushed back toward $77.50 to test liquidity. If the $8 million wall at $77.44 is swept and the price doesn't quickly recover, there's little liquidity below, and it could drift down toward $74–$75 to find the next support level. If it holds, the $10.8 million in new orders will form a cost basis for the bulls, leaving room for a rebound to $84–$85. The 12% of orders from shorts looking to cover near $77 could trigger a brief spike; the strength of the rebound will depend on how quickly those orders get filled.
For those of you holding longs, are you placing your stop-loss below $77 or below $74?
$HYPE $BTC $SOL