$HYPE has been bleeding slowly since the 10/29 spike to 97, and this morning it's parked around 88.1, right at the top of its value area.
On the NanoTrading Fire chart (4h) the VAH sits at 88.73, VAL down at 75.09, and the POC at 81.42, so price is basically testing the ceiling of where most volume traded. Overhead the short liquidation stack is thick: about $149M near 91.5, $124M near 93 and $112.5M near 94. The long clusters ($146M and $129M) are much further down, around 75.
Binance futures say the move is cooling, not loading up. OI slid from about 4.62M to 4.51M HYPE over the last day, funding is flat at 0.005% per 8h, and the crowd is still long: retail long/short is 1.57 and top traders are roughly 68% long by position.
My read: as long as $HYPE holds the 88 area, a push into that 91.5 short pocket is the path of least resistance. Lose 88 on a 4h close and I think it drifts back toward the 81 POC before anyone gets squeezed.
Do the 91.5 shorts get hunted first, or does $HYPE fill back down to 81?
NFA, just how I'm reading it 🔥
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#HYPE #Hyperliquid #NanoTrading
On the NanoTrading Fire chart (4h) the VAH sits at 88.73, VAL down at 75.09, and the POC at 81.42, so price is basically testing the ceiling of where most volume traded. Overhead the short liquidation stack is thick: about $149M near 91.5, $124M near 93 and $112.5M near 94. The long clusters ($146M and $129M) are much further down, around 75.
Binance futures say the move is cooling, not loading up. OI slid from about 4.62M to 4.51M HYPE over the last day, funding is flat at 0.005% per 8h, and the crowd is still long: retail long/short is 1.57 and top traders are roughly 68% long by position.
My read: as long as $HYPE holds the 88 area, a push into that 91.5 short pocket is the path of least resistance. Lose 88 on a 4h close and I think it drifts back toward the 81 POC before anyone gets squeezed.
Do the 91.5 shorts get hunted first, or does $HYPE fill back down to 81?
NFA, just how I'm reading it 🔥
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#HYPE #Hyperliquid #NanoTrading
