$HYPE just got rejected hard from the 61.95 area after a clean liquidity sweep and is now compressing around 57.76 with the market structure showing a clear lower high formation off that failed breakout. Volume spiked on the red candles confirming distribution not accumulation and price is sitting right at a fragile support shelf that has already been tested twice making a third touch a potential breakdown trigger. The bid depth at 72.63 percent looks strong on the surface but that kind of imbalance often flips fast when stop hunts clear the 57.00 level below.

Entry Zone: 57.60 to 57.85

Take Profit: 56.30 then 54.80

Stop Loss: 58.75

Risk Reward: approximately 1 to 2.8

HYPE
HYPEUSDT
59.96
+7.80%