HYPE Price Faces Its First Major Test After the $77 Bounce

1 day ago 2

Key Takeaways

HYPE bounced from $77 support.
Four-hour RSI now shows bearish divergence.
HYPE traded near $80.50 at writing.
Channel resistance meets $80.5 Fibonacci resistance.
$81.50-$84 is the next barrier.

HYPE rebounds into a crowded resistance zone

HYPE fell toward $77 before the decline slowed. The range combined prior horizontal support, the four-hour 200-period simple moving average and the lower edge of the descending channel.

Those levels do not guarantee that a price will hold. Their overlap, however, made the area one traders were likely to defend. The rebound has now brought HYPE to the opposite side of the channel, where buyers face a much harder task.

A bearish RSI divergence appears at resistance

The four-hour relative strength index, or RSI, shows a bearish divergence: HYPE’s price has pushed higher while the

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