2 weeks ago
3
Key Takeaways
- HYPE is testing support where the 0.5 Fibonacci level aligns with the 100-day moving average.
- HYPE spot ETFs recorded approximately $14.7 million in net outflows across the latest 11 trading sessions.
- A large holder staked 2.93 million HYPE worth about $172 million.
HYPE is trading near $58.7 at the time of writing after falling from above $70 earlier in July. Price is now close to the 0.5 Fibonacci retracement and the rising 100-day simple moving average near $56.65.
The overlap creates a clear area for the market to defend, but the surrounding data is mixed. A major holder has moved a large position into staking, while demand through spot exchange-traded funds has continued to weaken.
The First Recovery Test Sits Near $62.50
If HYPE holds above the current support area, the first important resistance sits around $62.50 at the 0.382 Fibonacci retracement.
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