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In this analysis, I’m going to review the HYPE coin for you. The Hyperliquid project is one of the DEX projects in the crypto space that also functions as a Derivatives platform, and it currently holds the highest 24-hour volume among all DEXs.
🔍 The token for this project, with the symbol HYPE, has a market cap of $7.23 billion and is ranked 20th on CoinMarketCap.
⏳ 4-Hour Timeframe
In the 4-hour timeframe, as you can see, this coin is in an uptrend with an ascending trendline, and it’s currently encountering resistance at 21.48.
📈 If the price stabilizes above this zone, a new bullish wave can begin, with the next resistance being at 22.799.
✔️ You can enter a long position using the 21.48 breakout trigger. Buying volume has increased significantly, which raises the chances of this level breaking.
📊 For short positions and a potential bearish trend in this coin, the first trigger would be a rejection from the 21.48 resistance. If the price gets rejected at this level, the likelihood of breaking the trendline increases.
⭐ A break of the trendline itself can also serve as a trigger. Breaking this trendline would eliminate bullish momentum in the market, and a breakdown below the 39.29 level on the RSI would further support bearish momentum.
🔽 The main short position can be opened upon breaking the 19.552 level. This is a very strong support, and if the price closes below it, it could drop further to 17.88.
👀 Overall, the long setup on this coin looks quite logical, and if the 4-hour candle closes as is and doesn’t turn out to be a fakeout, it could be a great entry opportunity.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’m going to review the HYPE coin for you. The Hyperliquid project is one of the DEX projects in the crypto space that also functions as a Derivatives platform, and it currently holds the highest 24-hour volume among all DEXs.
🔍 The token for this project, with the symbol HYPE, has a market cap of $7.23 billion and is ranked 20th on CoinMarketCap.
⏳ 4-Hour Timeframe
In the 4-hour timeframe, as you can see, this coin is in an uptrend with an ascending trendline, and it’s currently encountering resistance at 21.48.
📈 If the price stabilizes above this zone, a new bullish wave can begin, with the next resistance being at 22.799.
✔️ You can enter a long position using the 21.48 breakout trigger. Buying volume has increased significantly, which raises the chances of this level breaking.
📊 For short positions and a potential bearish trend in this coin, the first trigger would be a rejection from the 21.48 resistance. If the price gets rejected at this level, the likelihood of breaking the trendline increases.
⭐ A break of the trendline itself can also serve as a trigger. Breaking this trendline would eliminate bullish momentum in the market, and a breakdown below the 39.29 level on the RSI would further support bearish momentum.
🔽 The main short position can be opened upon breaking the 19.552 level. This is a very strong support, and if the price closes below it, it could drop further to 17.88.
👀 Overall, the long setup on this coin looks quite logical, and if the 4-hour candle closes as is and doesn’t turn out to be a fakeout, it could be a great entry opportunity.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.