Telegram’s Lighter integration fuels HYPE – Breakout toward $42 IF…
Telegram's integration with Lighter brought attention to Hyperliquid (HYPE), but a significant whale moved against the trend by selling 12.2K HYPE ($449.1K) and placing an additional 10.4K HYPE sell order ($386K), while withdrawing $1.26M in USDC. This activity, following the whale's exit from large long positions, created a divergence between the bullish narrative and capital flow.
HYPE maintained a bullish flag pattern, trading between support at $35.37 and resistance at $38. While the structure remained intact with buyers stepping in at lower levels, failure to break $38 indicated hesitation. A breakout toward $42.10 was possible if resistance was overcome. The RSI showed weakening buying pressure, stabilizing near 49.18.
Short liquidations dominated recent activity ($26.58K vs. $4.14K long liquidations), supporting upward pressure and short squeezes. However, the funding rate, though positive at 0.0008%, was declining, signaling reduced conviction among longs. This aligned with whale distribution, suggesting weakened confidence. The overall setup remained constructive but faced headwinds near resistance, leaving a breakout uncertain.
ambcrypto04/07 21:20