$HYPE is taking a breather following its impressive rally from the lows. The key level to watch now is $31.8 a breakdown here could signal a deeper pullback before the next leg up.
The current pattern is a descending triangle, which typically represents consolidation within an uptrend, not a reversal. The true confirmation for a major move would be a breakout above $38.
For the best risk/reward, consider long positions either on a hold of the $31.8 support or a clear break above $38; the middle ground is likely to be choppy.