$HYPE : The $35 Support is Thin Ice. Don’t get caught in the bounce trap! 📉❄️
$HYPE just underwent a massive structural reset, dropping from $42 to $35.60 in a flash. If you missed the initial breakdown, do not chase the price here. Right now, the market is overextended. We are seeing a classic "Panic Phase," but the smart money is waiting for the relief bounce to reload their shorts. The $38.20 level—which was our rock-solid support yesterday—is now the primary resistance.
In the intelligence room, we are watching the 4H candle closes. If we can't reclaim $38.50, this is just a temporary pause before the next leg down to $31.00. The $1.6B Open Interest "bubble" has popped, and the deleveraging process usually takes time to bottom out.
I’m setting my limit orders for a "retest short." We let the market come to us. Check the precise coordinates below.
#Hyperliquid #CryptoMarket #TechnicalAnalysiss #ShortSetup #TradingStrategy Entry Zone: $37.80 – $38.50
Rationale: We are waiting for a "Dead Cat Bounce" to the previous breakdown point. This provides a much better Risk/Reward than shorting at the current bottom.
TP1: $35.10 (Today's low; move SL to entry here)
TP2: $32.50 (Intermediate structural support)
TP3: $30.80 (Major macro liquidity pool and ultimate target)
SL: $40.20
Rationale: A reclamation of the $40 psychological level suggests the breakdown was a "fakeout" and shorts should exit immediately.