HYPE to break below $12 soon

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.

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• Price rejected off the horizontal resistance of $17, and price has pulled right back to the main horizontal support of $12.00.
• Price is beneath the local horizontal mid level (between the range) at $14.50, and therefore in the bearish part of the range.
• Price is in a downtrend and it's now squeezing into its main downtrend line. This might help set up the price for a potential breakout if we see Trump's tariffs potentially come in softer.
• The RSI has moved out of oversold territory, but it's now run up into the underside of its moving average, so this might be a rejection level for HYPE.

• Next Support: $12.00
• Next Resistance: $14.50
• Direction: Neutral
• Upside Target: $14.50
• Downside Target: $10.00

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Cryptonary's take

Ultimately, we can keep this relatively simple. Due to the bearish macro setup and the lack of new liquidity/stimulus, we expect risk assets to continue to pull back further.

Therefore, we do see HYPE breaking below $12.00 in the short or medium term. Where's stopping point/local bottom will be is hard to say, but we can take it in stages. The first stage of this is that we're expecting a breakdown of $12.00, and we see it as very possible that we see single-digit HYPE in the short/medium term.

We may then look to buy HYPE below $12.00, but we'd likely let the price find a price bottom first, and we expect this to be in the single digits.