$HYPE
Next week likely becomes important for HYPE.
For continuation towards ATH, you’d want to see the 12/25 EMAs continue to hold as dynamic support.
Back below that zone, and price likely shifts into lower-timeframe rotations with no clear directional acceptance, the question then becomes whether this is distribution or simply compression before the next leg.
I’ve also overlaid the Anchored VWAP from the origin of the move in May. It’s been pivotal throughout this recent push from the local lows, and contextually that remains a key reference point.
Downside risk increases if price starts trading back through that VWAP with acceptance and it probably is a phase of distribution.
Worth while keeping a watch on the fixes range volume profile as well.
TP'd on longs from mid range to 0.75 - and opened a small short after hitting the 1st objective (see previous tweet)
Acceptance back above this weeks high would get me looking for long continuation towards ath - and I'll cut the short.
all im gonna say is
Everyone saying its a bottom cause saylor sold
and all that happened was liquidating late bulls and early bears
the price still the same as yesterday
(Though stochastics slightly favor bulls for now, lets see if they can capitalize on it)
if not let chop city continue.
Bulls need a min break above 65.8
Bears need a min break below 60.5
hyperliquid:native
Closed the swing short from 75s at 62s last week... (see previous tweet)
This is looking promising for another stab at the highs again should bitcoin continue pushing on... that will be key for me... currently long
Secondary confluential factor is price is once again trading back above its daily 12/25s
I still believe Hype has a credible path to flipping Solana.
That said, this isn't a Sol vs Hype debate to me. In a strong bull market, both can do exceptionally from wherever the market lows form fwiw.
I've been a seller/trading (perps which includes longs as well) in recent weeks, but as stated previously, in the case of Hype (and Bitcoin), that capital will eventually finds its way back into accumulating more Hype and Bitcoin respectively....