Analysis of HYPE charts: key levels to consider.🫵👇👍
The price of HYPE corrects after a significant rise, as we mentioned. It is worth noting that in recent days, the HYPE/USD pair has been moving within a symmetrical triangle.
If the price manages to break the downward trend line and close above it, it could initiate a rally and reach 42.5 USD.
👉Now, the support levels to consider are:
💥32.0 USD: The strongest floor, where the price has bounced twice recently, which represents a double bottom.
💥30.0 USD: a psychological level, although not precisely a strong line.
💥25.0 USD: if the previous support is lost, the price could drop to this level.
👉The resistances to watch are:
💥35.6 USD: the price encounters immediate resistance at this level, which is the daily high.
💥38.2 USD: the weekly high and the strongest resistance in this instance and in the short term.
💥39.9 USD: the all-time high, whose surpassing could take the price beyond the mentioned 42.5 USD.
The RSI at 37 points shows that the price of HYPE is in the hands of the bears, so in the short term, declines are expected.
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