HYPE Price Gives Back 10% From ATH in a Three-Way Test

4 hours ago 1

Key Takeaways

HYPE is more than 10% below its high.
$87-$88 combines three chart references.
The rising wedge adds downside risk.
$79-$80 is the next support area.
Protocol buybacks are not a price floor.

HYPE is testing its nearest support area

HYPE’s pullback has reached the $87-$88 range, the nearest support area on the daily chart. It is a three-way test: the 23.6% Fibonacci retracement near $86.5, the former all-time-high area and the rising diagonal support line all converge there.

HYPE/USD daily chart showing price near the $87-$88 support zone, where the 23.6% Fibonacci retracement, a former all-time-high area and rising diagonal support converge; the 38.2% Fibonac... </div>

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HYPE Price Gives Back 10% From ATH in a Three-Way Test

Key Takeaways

HYPE is testing its nearest support area

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