Is this the $HYPE bottom, or just an elaborate bull trap before the next leg up? 👀
$HYPE's H4 chart is testing key support near $72.00 while facing immediate Ichimoku resistance around $76.00.
Alright team, let's break down this juicy $HYPE chart and see what's cooking after the recent market shakeout!
Technical Analysis:
$HYPE on the 4-hour timeframe has completed a steep correction from its local high of $96.50 down to a strong demand zone around $72.00 - $73.00. We are seeing initial signs of a bounce, with the current price sitting at $74.69. Immediate resistance lies at the Tenkan-sen ($75.80) and Kijun-sen ($78.00). A breakout above $78.00 would clear the path for a retest of the bearish Ichimoku Cloud resistance around $81.00 - $86.00.
Fundamental Analysis:
Fundamentally, Hyperliquid ($HYPE) continues to dominate market interest as one of the premier L1 perpetual DEX protocols with record-high daily trading volume and strong protocol revenue. Ecosystem expansion and deep liquidity on the platform provide a solid foundation for long-term growth.
Action Plan:
I am accumulating in this lower zone between $73.00 and $75.00, targeting a recovery toward $86.00 and beyond once key resistance levels break.
Highly recommend HOLD and Stacking $HYPE at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
HYPE #TechnicalAnalysis #Crypto #BinanceSquare #Bitcoin
$HYPE's H4 chart is testing key support near $72.00 while facing immediate Ichimoku resistance around $76.00.
Alright team, let's break down this juicy $HYPE chart and see what's cooking after the recent market shakeout!
Technical Analysis:
$HYPE on the 4-hour timeframe has completed a steep correction from its local high of $96.50 down to a strong demand zone around $72.00 - $73.00. We are seeing initial signs of a bounce, with the current price sitting at $74.69. Immediate resistance lies at the Tenkan-sen ($75.80) and Kijun-sen ($78.00). A breakout above $78.00 would clear the path for a retest of the bearish Ichimoku Cloud resistance around $81.00 - $86.00.
Fundamental Analysis:
Fundamentally, Hyperliquid ($HYPE) continues to dominate market interest as one of the premier L1 perpetual DEX protocols with record-high daily trading volume and strong protocol revenue. Ecosystem expansion and deep liquidity on the platform provide a solid foundation for long-term growth.
Action Plan:
I am accumulating in this lower zone between $73.00 and $75.00, targeting a recovery toward $86.00 and beyond once key resistance levels break.
Highly recommend HOLD and Stacking $HYPE at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
HYPE #TechnicalAnalysis #Crypto #BinanceSquare #Bitcoin
