4 days ago
3
Key Takeaways
- HYPE has moved below $52.5, although the August 1 daily candle remains open.
- The 0.5 Fibonacci retracement and lower channel boundary meet near $51.
- HIP-4 has reached testnet but has not created immediate demand for HYPE.
- A stronger recovery would require price to clear the $56–$57 resistance cluster.
The $52.5 area was identified as an important support level when our previous analysis examined whether buyers were strong enough to defend it.
Price briefly fell below the level on July 31 but recovered before the daily close. Selling returned during the August 1 session, pushing HYPE back underneath it while the token remained inside the descending channel that has guided price lower since early July.
The current candle has not closed, so the move is not yet a confirmed daily breakdown. The next support sits only slightly lower, making the reaction around $51 more important than the intraday loss of $52.5 alone.
English (US)