Market Direction

Will $18.50 support hold for HYPE

Updated: May 6, 2025

Published: May 5, 2025

HYPE's rally has outpaced majors, but upside looks limited near $21.20. With resistance strong and momentum fading, a pullback to $14.50—or even $12—is likely in the weeks ahead.

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 has broken out of its main downtrend line, with price now finding a sticking point at the local resistance of $21.20.
Beyond $21.20, the major resistance is at $23.10.
On the downside, the support is at $18.50, with $17.00 at the key level below that.
The RSI has been close to overbought territory a few times recently, with its moving average also high, and the RSI using that average as support currently.

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Next Support: $18.50
Next Resistance: $23.00
Direction: Neutral/Bearish
Upside Target: $23.00
Downside Target: $14.50

Cryptonary's take

It has been a mega rally for HYPE, having outperformed many other coins, and all Majors. HYPE could go higher in the immediate term, but we wouldn't bet on higher from here (not good risk/reward), and we do expect further downside in the coming weeks/months. We expect that over the next 2-6 weeks, HYPE loses the $17.00 level and $14.50 is tested (as a minimum). We wouldn't be surprised to see single digits to $12.00 again. Patience here.