🎯 LONG SETUP – $HYPE 🎯
Entry Zone: 24,300 - 23,800
Stop Loss: 23,200
Take Profit Targets:
∙ TP1: 25,200
∙ TP2: 26,500
∙ TP3: 27,800
🔥 Bullish Justification
HYPE has just gone through a strong correction from the peak of 29,564 down to the area of 22,185, creating an important swing low. The price is recovering and testing the area of 24,300 with a higher low structure forming on the 4-hour chart, indicating that selling pressure is gradually decreasing.
Trading volume is slightly increasing during the recovery session with 1.18B, while MA(7) at 24,757 is converging with the current price. MA(25) and MA(99) are still above, but the distance is narrowing, signaling that the decreasing momentum is slowing down and ready for a technical bounce.
This setup has a high probability because the area of 24,000 - 24,300 has been tested multiple times in the past 24 hours and has formed strong support. The liquidity pool is accumulating around this area with strong buy orders (34.33% buy vs 65.67% sell), if the price can hold this support area, it will create leverage to test the resistance of 25,500 - 26,000 in the short term.
