$HYPE : The "Dead Bounce" or a Short Trap? 📉
The chart doesn't lie. $HYPE is trapped in a classic consolidation range, oscillating at high levels but failing to reclaim the MA(99) at 31.85. Every pump is met with heavy rejection wicks—a sign that big players are exiting.
While the Square is buzzing about decentralized derivatives, don't ignore the math: constant token unlocks and a clear loss of momentum. Unless we flip $32.50, this is just a relief bounce waiting to be sold.
The Play: I’m leaning bearish. Look for entries near $31.50 with a target back at the $28 support. 📉👇
HYPEUSDT
Perp
32.16
+5.79%
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