🚨 $HYPE straight-up bearish right now, no doubt about it. For trading on 1hour timeframe I'm cautiously thinking short on a rebound. Trend's down with heavy pressure, but it's so oversold we might see a quick bounce or flatline soon.
Volume's been telling: Big sells hitting during those price drops (like 915k around 24.661 USDT), which screams strong downward push. But lately, the candles are quieter on volume, maybe hinting that sellers are getting worn out.
Flows are rough too – contracts bleeding out hard (-39.7M USDT last 24h, even worse at -100.5M over 7 days), showing futures folks are dumping. Spot side's kinda mixed, but leaning negative short-term, just adding to the gloom.
For entry short $HYPE : Wait for a pullback to resistance around 25.265 (R1) or 25.401 (MA20), and look for bearish signs like an engulfing candle or pin bar bounce-off. Or, if it smashes below 24.414 (that 24h low) with volume spiking, jump in short.
Stop at 25.833 (resistance level) or 3-5% above your entry (say 25.5-26.0 USDT)
Targets $HYPE : Eyeing supports at 24.354 (Support zone) or 24.011 (next support)
