HYPEUSDT - SAME LEVEL BUT DIFFERENT STORY.
Previously highlighted $87.36 as my preferred DCA area. Since then HYPE dropped toward $83 but now looks like it is bouncing up to re-test this level from below. The key thing to note here is that levels can flip from support to resistance if buyers fail to retake them.
Live : $HYPE $86.571 (+1.11%) | H $87.904 L $82.585 | Turnover $387.22M
Currently HYPE is rebounding at around a 3.3% level but on the 4H chart it can clearly be seen that HYPE has failed to make new highs after rallying up to $97. I am not chasing this bounce. I want to see a strong 4H close above $87.36 and having a successful re-test.
If HYPE fails to break up I’m looking at $89 to $90 and then $92 to $94. Only once we start to recover towards $97 will it look feasible after breaking these resistances.
Long term I like the ICE Trade XYZ strategy for Hyperliquid based US perps. It looks good for a solid long term story for the ecosystem but obviously needs to be approved by regulators. Whilst I like the potential of HYPE I want to see some price action to help the bullish story.
The risk is simple, if it gets rejected around the $87.36 could send HYPE back toward $84 and $83. If green demand zone near $81.60 levels then the next level of support at $76.75 to $76.91 will come into play. The DCA comment isn’t an actual entry point. I’m taking a cautious bullish approach and will wait for confirmation before adding any new spot. I have learnt that buying a solid story at the wrong price can be a bad move. Currently looking at a prediction of $87.36 matters more to me than another $100.
Do you see $HYPE $0__83?
Click here to trade $HYPE
@Binance Square Official @BlockchainBaller @shuja246 @cryptoJobs3 @Binance News @Binance BiBi @CZ @Binance Live @Binance Announcement
#BinanceIncidentReport #BinanceReopensWithdrawalsForMoreAssets #BinanceHourlyDepositsExceedWithdrawals #USMidtermElections #USOctoberNFP-AreRateCutsStillPossible
Previously highlighted $87.36 as my preferred DCA area. Since then HYPE dropped toward $83 but now looks like it is bouncing up to re-test this level from below. The key thing to note here is that levels can flip from support to resistance if buyers fail to retake them.
Live : $HYPE $86.571 (+1.11%) | H $87.904 L $82.585 | Turnover $387.22M
Currently HYPE is rebounding at around a 3.3% level but on the 4H chart it can clearly be seen that HYPE has failed to make new highs after rallying up to $97. I am not chasing this bounce. I want to see a strong 4H close above $87.36 and having a successful re-test.
If HYPE fails to break up I’m looking at $89 to $90 and then $92 to $94. Only once we start to recover towards $97 will it look feasible after breaking these resistances.
Long term I like the ICE Trade XYZ strategy for Hyperliquid based US perps. It looks good for a solid long term story for the ecosystem but obviously needs to be approved by regulators. Whilst I like the potential of HYPE I want to see some price action to help the bullish story.
The risk is simple, if it gets rejected around the $87.36 could send HYPE back toward $84 and $83. If green demand zone near $81.60 levels then the next level of support at $76.75 to $76.91 will come into play. The DCA comment isn’t an actual entry point. I’m taking a cautious bullish approach and will wait for confirmation before adding any new spot. I have learnt that buying a solid story at the wrong price can be a bad move. Currently looking at a prediction of $87.36 matters more to me than another $100.
Do you see $HYPE $0__83?
Click here to trade $HYPE
@Binance Square Official @BlockchainBaller @shuja246 @cryptoJobs3 @Binance News @Binance BiBi @CZ @Binance Live @Binance Announcement
#BinanceIncidentReport #BinanceReopensWithdrawalsForMoreAssets #BinanceHourlyDepositsExceedWithdrawals #USMidtermElections #USOctoberNFP-AreRateCutsStillPossible
