Look at the 4h chart of $HYPE rn. We just had a massive move from 74.413 up to 97.193, and now the price is chilling right at 87.952.
People are scared bcz the red candles are showing, but look at the moving averages. The price is literally bouncing right on the MA7 (87.877) and holding above the MA25 at 87.225. The yellow and pink lines are acting as a perfect dynamic support.
Also, check the volume at the bottom. The massive spike happened during the pump, and now the volume is decreasing on this pullback. That means the sellers are actually weak. If it was a real dump, the volume would be huge.
The MA99 is still way down at 80.836, which show the macro trend is heavily bullish.
So why are you closing your position just bcz it's ranging for a few hours ?
If you are in spot, just let it breathe. i think the structure is not broken. Wait for a clear break below the MA25 before you even think about exiting.
Don't force a trade when the market is just taking a breath.
$HYPE
People are scared bcz the red candles are showing, but look at the moving averages. The price is literally bouncing right on the MA7 (87.877) and holding above the MA25 at 87.225. The yellow and pink lines are acting as a perfect dynamic support.
Also, check the volume at the bottom. The massive spike happened during the pump, and now the volume is decreasing on this pullback. That means the sellers are actually weak. If it was a real dump, the volume would be huge.
The MA99 is still way down at 80.836, which show the macro trend is heavily bullish.
So why are you closing your position just bcz it's ranging for a few hours ?
If you are in spot, just let it breathe. i think the structure is not broken. Wait for a clear break below the MA25 before you even think about exiting.
Don't force a trade when the market is just taking a breath.
$HYPE
