HYPE Sees Relief Rally, Bearish Channel Persists Ahead of $327M Token Unlock
HYPE (Hyperliquid) experienced a relief rally, gaining 5.92% to $26.52 amid broader crypto market improvements, though it remains down 55% from its September peak. Daily trading volume rose 84% to $242 million, while futures trading and open interest also increased, indicating sustained investor activity without a clear directional trend.
A significant token unlock of 12.46 million HYPE tokens (worth ~$327 million, 3.61% of supply) is approaching, which may trigger short-term selling pressure and hinder upward momentum, especially given the ongoing price slump.
Technically, HYPE is stabilizing around $25–26 on the 4-hour chart, with RSI above 60 and a positive MACD crossover suggesting growing buyer interest. However, breaking above the $29–$30 resistance is crucial for a sustained rally, while losing the $25 support could lead to further declines.
TheNewsCrypto01/19 14:32
