$HYPE
HYPE may already have formed a larger wave (2) low following the recent pullback, while the current rebound increasingly supports the beginning of a wave (3) advance.
Leading Scenario: As long as price holds above the invalidation level near $38.20, the structure continues to favor further upside in wave (3). In this scenario, wave (3) should at least target the 123.6% Fibonacci extension near $54.26, with additional upside potential toward the higher extension region between roughly $56.54 and $60.51.
Risk Scenario: A sustained break below the invalidation level near $38.20 would weaken the bullish interpretation significantly and increase the probability that the correction is still unfolding.
Key Support Levels: $41.20 / $39.75 / $38.50 / $36.71 / $38.20
Key Resistance Levels: $48 / $50 / $54.26 / $56.54 / $60.51
Bottom Line: HYPE may already have completed a larger wave (2) low, with the structure currently favoring upside in wave (3) as long as the key invalidation level near $38.20 holds.