$HYPE 91.64, up 15.52% in 24 hours. Today it touched a high of 97.193, and people were already calling it a new high.
It wasn’t a new high. It fell short by 0.88%.
The highest point in the last 90 daily candles was just 98.057, reached on September 23. That day, it closed at 94.024.
Today’s candle spiked to 97.193 and then turned around, getting slammed back down to around 91.4. It left a long wick, showing that all the sell orders above were still sitting there—they hadn’t been pulled.
It’s clear on the chart: the area around 97 is empty; price has never closed above it. (Screenshot at 18:16, UTC+8, 90 daily candles)
This move was really just short covering running into resistance.
The key level is 98.057. If price gets above it, there are no historical bagholders overhead, and 100 is the first whole-number milestone.
If it breaks below 88.55, today’s long upper wick is invalidated, and a retest of 79.22 is also possible.
Keep an eye on 98.057. Don’t chase the wick.
A 15% gain and a genuine new high are two different things.
Data: https://www.binance.com/zh-CN/futures/HYPEUSDT
Are you long or short on HYPE?
It wasn’t a new high. It fell short by 0.88%.
The highest point in the last 90 daily candles was just 98.057, reached on September 23. That day, it closed at 94.024.
Today’s candle spiked to 97.193 and then turned around, getting slammed back down to around 91.4. It left a long wick, showing that all the sell orders above were still sitting there—they hadn’t been pulled.
It’s clear on the chart: the area around 97 is empty; price has never closed above it. (Screenshot at 18:16, UTC+8, 90 daily candles)
This move was really just short covering running into resistance.
The key level is 98.057. If price gets above it, there are no historical bagholders overhead, and 100 is the first whole-number milestone.
If it breaks below 88.55, today’s long upper wick is invalidated, and a retest of 79.22 is also possible.
Keep an eye on 98.057. Don’t chase the wick.
A 15% gain and a genuine new high are two different things.
Data: https://www.binance.com/zh-CN/futures/HYPEUSDT
Are you long or short on HYPE?
