Overview

• HYPE trades in the mid‑$40s after a fifth straight weak session, with repeated failures at the $48–$50 band reinforcing near‑term resistance.
• Derivatives lean bearish as Coinglass shows a long‑to‑short ratio near 0.80, and Sweep reports roughly 53.5% of large accounts positioned short.
• Short‑term charts flag bear‑leaning patterns—including a bear‑flag breakdown and a head‑and‑shoulders risk—while some higher‑timeframe structures remain constructive.
• Key levels: a close above ~$49–$50 would open $52 then $55–$60, whereas losing $46–$47 increases the risk of a deeper retest toward $39–$40.
• On‑chain fundamentals cite about 660,000 HYPE staked, ongoing buybacks and ~$3.0–$3.2M in daily protocol revenue, with some analysts noting market‑maker accumulation and a recent liquidation sweep around $45–$46.