Market Direction

HYPE finds support at $18.50

Updated: Mar 4, 2025

Published: Mar 3, 2025

HYPE’s price action is caught between crucial support and heavy resistance, with a fresh bear flag keeping traders cautious. Let’s dive into the latest analysis and see what’s next for this volatile asset.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

HYPE:

HYPE broke down from its main pennant pattern, and it has seemingly found support at the $18.50 area (a new area we've marked out).
There is a local horizontal resistance of around $21, and that price will need to be cleared.
$23 to $24 still remains the key resistance area for the price to get above for it to have a shot at reaching all-time highs.
Price is currently forming a bear flag, which would have a breakdown target of $14 to $15.
The RSI isn't oversold, although it is moving lower in a downtrend, whilst it's below it's moving average.

Next Support: $18.50
Next Resistance: $22.00
Direction: Neutral/Bearish
Upside Target: $22.00
Downside Target $15.00

Curious about DOGE's next move? Our HYPE price prediction offers a deep dive into market trends!

Cryptonary's take:

HYPE looks to have broken it's range bound price structure. And whilst it's in a lower range, we have seen a bear flag be formed, which does have a breakdown target of $14 to $15.

Therefore, we are expecting price to be choppy, but to remain under $22, and likely that we see a breakdown to at least $15, assuming we're right and the bear flag breaks down.