$HYPE Update — Structure Still Bearish.

$HYPE has shown clear relative weakness over the past 48 hours — even while the broader market was already under pressure.

The $28 pivot we highlighted was critical.

Once it broke, the reaction was immediate and aggressive.

That loss of support opened the door for downside continuation, with $23 now the next likely target zone.

🔑 Key Levels to Watch

• Below $28.50 → Sellers remain in control

• $23 → Next downside target

• Reclaim $28.50 → Structure stabilizes (neutral bias)

• Break $30.50 → Downtrend invalidated, bullish flip

Right now, momentum favors sellers.

Until $28.50 is reclaimed with strength, rallies may simply be relief bounces within a broader bearish structure.