The price of HYPE token continues to decline, facing new resistance levels and bearish trends.
Sellers Regain Control Below Resistance
HYPE price action turns bearish as it retests the $38 level as resistance. This confirms a breakdown from the mid-range support after multiple unsuccessful attempts to break above $41 and $44, creating a sequence of lower highs. The On-Balance Volume (OBV) has steadily declined, signaling growing sell-side dominance.
Volatility Ahead as Short-Term Support is Tested
While the trend remains negative, there is potential for a brief bounce if Bitcoin finds support near $111k–$112k. Should BTC recover, HYPE might temporarily pause its decline, allowing a move towards $39 or $40. However, unless HYPE converts $38 into support, the bearish trend remains valid.
Technical Indicators Signal Short-Term Bounce Possible
Technical indicators on the 4-hour chart show bullish divergence on the RSI, suggesting that a reaction rally is possible. Nevertheless, the structure remains bearish unless momentum decisively breaks above $39.2. HYPE price action stays bearish until proven otherwise, and a drop to $31 continues to be a likely outcome.
In the current scenario, HYPE faces significant challenges, and the outlook remains firmly within a bearish trend, potentially leading to further price declines.
