HYPE price is attracting attention as a whale’s profit surpasses $23 million, raising concerns about potential selling pressure and the token’s near-term recovery.
As of press time, HYPE is trading near $83.80, based on the supplied 4-hour TradingView chart. The latest candle has gained roughly 0.50%, yet HYPE remains well below its recent peak around $94-$95.
Also Read: HYPE OTC Distribution Moves $330 Million Token Allocation to Buyers
What’s Keeping HYPE Price Under Pressure?
The whale’s moves are the primary driver behind the market’s latest focus. According to Lookonchain, a whale who bought 257,928 HYPE for approximately $902,000 at around $3.50 per token two years ago has generated more than $23 million in profit.
“Total profit: over $23M, with a 26x return.”
The whale deposited 131,421 HYPE, valued at roughly $11.77 million, to Kraken at an average price of $89.56 over the past week. The wallet still holds another 140,506 HYPE worth approximately $12.2 million.
The transfer does not confirm that all the deposited tokens have been sold, but further exchange deposits could increase concerns about potential selling pressure. For HYPE holders, the central question is whether the whale continues sending tokens to Kraken or begins reducing the remaining position.
What Is the HYPE Price Chart Indicating?
The 4-hour TradingView chart reveals a distinct pullback from the $94-$95 zone. HYPE has moved lower through several short-term levels and recently reached the $83-$84 range, where buyers have attempted to halt the decline.
Holding firmly above this area could allow buyers to target $88. Beyond that, the chart shows potential resistance around $90-$92, while the previous high near $94-$95 remains a larger hurdle.
HYPE Price RSI Points to Oversold Conditions
The Relative Strength Index (RSI) offers one of the clearest indications that the recent decline may have become overextended. The 14-period RSI reads 28.33, below the traditional 30 oversold threshold, while its average stands near 40.47.
This suggests selling pressure has pushed HYPE into oversold territory. That does not guarantee a reversal, though. If the RSI remains below 30 and the price struggles to recover, sellers could retain control.
Also Read: Hyperliquid Gains Spotlight as Network Growth Boosts HYPE Price Outlook
Can a MACD Rebound Help HYPE Price Recover?
The MACD also continues to signal bearish momentum. According to the provided chart, the MACD line stands near -1.58, below the signal line at approximately -0.69, while the histogram reads around -0.89.
This configuration suggests downside momentum remains active. For a more convincing recovery signal, traders would need to see the MACD move toward the signal line alongside a sustained break above the $88 resistance zone.
Also Read: HYPE Buybacks Surge: $14.58M Added, Tops $900M
What Does CoinGlass Data Say About HYPE Price?
CoinGlass data shows Hyperliquid open interest remaining above $3 billion, indicating substantial derivatives exposure despite the recent price decline.
The volume chart also shows considerable trading activity, with recent daily volumes reaching several billion dollars. Meanwhile, the liquidation chart displays repeated spikes in both long and short liquidations, highlighting the volatility surrounding HYPE’s perpetual futures market.
This makes the $83-$84 zone important. A rebound from this area could encourage traders to rebuild bullish positions, while a breakdown could trigger further liquidations and increase downward pressure.
Also Read: HYPE Price Gains Attention as ETF Growth Meets Key Technical Setup
Will Whale Activity Determine the Next HYPE Price Move?
The technical outlook remains cautious, although the oversold RSI leaves room for a potential rebound. The whale’s profit of more than $23 million and the Kraken deposit introduce further uncertainty, particularly if additional HYPE moves to exchanges.
For now, $83-$84 is the key support zone, while $88 is the first significant recovery hurdle. Traders will likely monitor price action and further whale transfers to determine whether HYPE can regain momentum or extend its decline.
Also Read: HYPE ETF Institutional Buying: $4.96M Buy and 49M Burned
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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