$HYPE Technical Analysis: Rejection at Supply Zone — Short Opportunity? 📉
The recent upside push on $HYPE has met significant resistance. Buyers failed to establish acceptance at higher levels, leading to a "fakeout" look as the price was quickly sold back into the range.
Key Technical Observations:
Supply Rejection: Price tapped into the overhead supply zone but lacked the momentum to sustain the breakout.
Momentum Shift: Buying pressure is fading on lower timeframes, and structure is beginning to roll over.
Bearish Bias: As long as price remains capped under the current resistance, the path of least resistance is toward the downside.
Trade Setup:
Direction: Short 🔴
Entry Zone: 21.5 – 22.0
Stop Loss (SL): 23.1
Target 1 (TP1): 20.2
Target 2 (TP2): 18.9
Target 3 (TP3): 17.5
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$HYPE trade here 👇
