$HYPE has been showing relative weakness over the last couple of days, even in a market that’s already been struggling.

The $28 level was always a key line in the sand we’ve pointed it out multiple times. Once that broke, the selling accelerated quickly. Now it looks like the next leg lower could take us toward the $23 area.

If price can convincingly reclaim $28.50, that would neutralize the bearish setup and suggest some stability. A move above $30.50 would flip the structure entirely and signal a shift back toward upside momentum.

All in all, another clean short setup that played out well. #TrumpNewTariffs