The HYPE token demonstrates strong bullish formation alongside significant trading and outflow data in the market.
Ascending Triangle Formation
The HYPE/USDT chart on a 12-hour time frame shows an ascending triangle, a structure often associated with bullish signals. This pattern is marked by horizontal resistance near $49–$50 and a trendline of higher lows that has been in place since late July.
Market Price and Trading Volume
At press time, HYPE was trading at $46 with a 24-hour trading volume of $270.6 million. The token has slightly increased over the last day and by 4% over the past week. Its prices continue to move within the consolidation range that has held for most of the summer.
Token Outflows from Exchanges
Flow data indicates that HYPE tokens are leaving exchanges, easing short-term selling pressure. Netflow activity remains close to neutral, with notable outflows contributing to price stability.
Technical analysis of HYPE suggests a potential breakout, supported by buyback programs and favorable market conditions.
