$HYPE
1h TF. The price has reached a resistance level on the hourly chart. This level coincides with the trendline. Such a setup may lead to a price bounce downwards.
The local upward movement is starting to weaken. This is confirmed by a structural change in the key supply zone. Liquidity is visible above the entry zone, making the level attractive for large sellers. The probability of a downward move is increasing.
The priority scenario is a decline towards the nearest demand zones.
Profit-taking targets:
- TP1: 36,548 — hourly order block zone and local support
- TP2: 32,507 — FVG area and key liquidity
- TP3: 29,436 — test of the main demand zone.