1 month ago
16
Key Takeaways
- HYPE is testing the upper boundary of its month-long descending channel near $55.
- The recovery remains intact while price holds the 0.618 Fibonacci level at $53.
- U.S. HYPE spot products recorded no positive net inflows across the latest 13 trading sessions.
- Japanese-listed Eole purchased 1,078 HYPE and plans to expand its allocation to ¥100 million.
- Eole introduces a new corporate buyer, but the position is too small to explain the latest price move.
HYPE Tests the Channel Ceiling Near $55
Coindoo owner Filip Vantchev highlighted the test, writing:
“Price is testing the top of the descending channel once again.”
HYPE has formed a sequence of lower highs and lower lows since trading above $70 in early July. Its latest advance has now reached the upper trendline that contained the previous recovery attempts.
English (US)