$HYPE – Short Signal
Daily timeframe:
The daily chart is still bearish overall, with price trading below key higher-timeframe resistance. No confirmed trend reversal yet.
4H timeframe:
The 4H chart is showing a strong bounce but remains in a corrective phase. Price is approaching a supply zone, making it vulnerable to rejection.
1H timeframe:
The 1H chart is overextended with RSI above 80, indicating overbought conditions. Price is also stretched above EMA7 and EMA25, suggesting a pullback is likely.
Short Entry: 29.60
Current Price: 29.59
Targets:
TP1: 28.76
TP2: 28.08
TP3: 27.39
Stop-Loss: 30.15
Indicator Summary:
RSI (6): 83 → Overbought, signals possible correction.
MACD: Bullish but flattening, suggesting weakening momentum.
EMA(7/25/99): Price is far above short-term EMAs, often followed by a short-term retracement.