Price Analysis $HYPE – Will We Witness Another Explosion After $HYPE
the Correction?
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Real-time and fundamental data:
Current price: approximately $43.4 USD
Price range over the last 24 hours: between $43 to $47.8 USD, and a decline of -6.7% overall
Trading volume over 24 hours: about $290 million USDT
Overall performance: Recorded a significant increase after the launch (up to +750%), but currently experiencing a correction after hype and rising RSI
Market spending and Open Interest: Jumped to $44 million, indicating renewed buying pressure despite the current decline
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Technical analysis and expected performance:
After the price decline, RSI indicated an oversold condition, suggesting a short-term accumulation opportunity.
Critical resistance level: near $47–48 USD.
Initial support level: around $43, then lower support at $40 USD.
With the return of trading activity and open interest, a bullish rebound attempt is likely.
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Proposed trading strategy (Short-Term):
If the price holds the support level at $43 USD and starts to rise, consider entering a short-term buy.
Potential profit-taking points:
First: $46 USD (quick target)
Second: $48–50 USD (if resistance breakout occurs)
Stop Loss: at a clear break below $42 USD
On the other hand, if the decline continues and the price breaks support at $43 strongly:
We may head towards $40–$38 USD; and here a short trade is beneficial with a stop loss above $44–$45 USD
