Overview
- HYPE gained about 6% to roughly $40.4 and was the only top‑20 crypto in positive territory as more than $1 billion in market liquidations hit risk assets.
- Analysts highlight a head‑and‑shoulders pattern with a neckline near $35.5 alongside an approaching 50/200‑day moving‑average death cross.
- A decisive break below the neckline is flagged as risking a slide toward $10–$12, according to chart‑based assessments reported by the outlets.
- Supportive on‑chain factors persist, including more than $1.3 billion in buybacks that removed about 28.5 million HYPE and staking deposits up nearly 60% in a month.
- Developers launched the BLP testnet on Hypercore and expanded tokenized‑equity listings such as Nvidia, Tesla, and SpaceX, while some analysts say reclaiming levels above $50 would invalidate the bearish setup.