HYPE price prediction

HYPE turned down from the psychological level of $50 on Monday, but a positive sign is that the bulls have not ceded much ground to the bears.

The upsloping moving averages and the relative strength index (RSI) near the overbought territory indicate buyers are in control. If the price rebounds off $45.80, it suggests the bulls have flipped the level into support. That enhances the prospects of a break above $50. The HYPE/USDT pair may then ascend to $60.

Sellers will have to yank the price below the 20-day exponential moving average (EMA) ($42.93) to weaken the bullish momentum. The pair could signal a short-term top if the price skids below the 50-day simple moving average SMA ($38.86).

The pair is witnessing a tough battle between the bulls and the bears near the 20-EMA on the 4-hour chart. The flattening 20-day EMA and the RSI just above the midpoint do not give a clear advantage either to the bulls or the bears in the near term.

Buyers will have to drive the price above $50 to seize control. The pair may then climb to $60. The short-term trend will tilt in favor of the bears if they sink the pair below the 50-day SMA. That could deepen the correction to $41.