- Trading pair: HYPE-USDT
- Time range: 2026-01-30 04:00:00 ~ 2026-02-11 04:00:00
- Data nature: Real-time candlestick chart
## Candlestick Pattern Deep Analysis
1. **Strong bullish momentum appears around February 2nd** - Large green candle with significant price increase from approximately 27.429 to 38.416 - Very strong bullish signal
2. **Bearish engulfing pattern forms after reaching peak at 38.416** - Previous uptrend reversal, selling pressure dominance - Strong bearish signal
3. **Double bottom pattern forms around 31.582 level (February 6-7)** - Price tested this support twice and bounced - Moderate bullish signal
4. **Bullish rally with consecutive green candles around February 8-9** - Attempted recovery with increasing volume - Medium bullish signal
5. **Recent large red candle breaking below EMA7 (30.002)** - Strong bearish momentum, rejection of higher prices - Strong bearish signal
6. **Latest candle shows potential doji formation near 28.977** - Indecision after recent decline - Weak signal
## Support and Resistance Levels Judgment
**Resistance Levels:**
- Short-term: 30.000 (EMA7 level acting as immediate resistance)
- Mid-term: 31.500 (Previous consolidation zone)
- Major: 38.400 (Recent peak)
**Support Levels:**
- Immediate: 28.000 (Psychological level)
- Short-term: 27.400 (Previous low from early February)
- Mid-term: 26.000 (Based on previous price action)
## Comprehensive Technical Evaluation
**Volume Analysis:**
- Volume spikes align with major price movements, particularly during the February 2nd rally and subsequent correction
- Recent declining volume suggests weakening momentum
**Trend Direction:**
- Short-term trend: Bearish (price below EMA7)
- Mid-term trend: Neutral with bearish bias (price consolidating between 27-32)
- Long-term trend: Bullish (price significantly higher than January levels)
**Technical Indicators:**
- EMA7 (30.002) currently providing immediate resistance
- EMA25 (31.289) and EMA99 (30.609) showing bearish alignment
- Price trading below all EMAs indicates bearish control in short term
## Conclusion
HYPE-USDT is currently in a short-term bearish phase after rejecting the 30.000 level. The recent sharp decline has pushed the price down to test the 28.000 support level. Traders should watch for potential bounces at the 28.000 and 27.400 support levels, while being cautious of further downside if these levels fail to hold.
For those considering entries, waiting for confirmation of support at current levels with increased buying volume would be prudent. Risk management is essential given the current volatility, with stop losses placed below 27.400 for long positions. The overall market structure remains positive when compared to January levels, but short-term caution is warranted until clearer directional signals emerge.