The $HYPE 77 area has held for 3 days—can it hold up?
HYPE perpetuals are currently at 78.04, down 4.1% over 24 hours, with about 470 million U in trading volume.
Over the past three days, the 4-hour chart has tested 77.3–77.9 several times, but each time it bounced back. Today BTC is down 3.8%, and the area is being tested again. The funding rate is 0.003%, and both longs and shorts are staying calm.
My plan:
Watch zone: 77.3–77.9
If it breaks below 76.2, the thesis is invalidated; I’ll switch to watching from the sidelines.
To the upside, first 80.0, then 81.8 (the 4-hour high from the past few days).
Do you think it will hold this time, or break down?
#HYPE
The above does not constitute investment advice
HYPE perpetuals are currently at 78.04, down 4.1% over 24 hours, with about 470 million U in trading volume.
Over the past three days, the 4-hour chart has tested 77.3–77.9 several times, but each time it bounced back. Today BTC is down 3.8%, and the area is being tested again. The funding rate is 0.003%, and both longs and shorts are staying calm.
My plan:
Watch zone: 77.3–77.9
If it breaks below 76.2, the thesis is invalidated; I’ll switch to watching from the sidelines.
To the upside, first 80.0, then 81.8 (the 4-hour high from the past few days).
Do you think it will hold this time, or break down?
#HYPE
The above does not constitute investment advice