HYPE, the cryptocurrency token, is trading at roughly $55.50 per CoinGecko, marking a 22% decline over the past month. Several analysts now see more downside ahead, with some calling for a drop to $50 or even lower.
Sell Signal Flashes on TD Sequential
Analyst Ali Martinez reported that HYPE's TD Sequential indicator has flashed a sell signal. That could push the token down to $50, he said. The TD Sequential is a popular tool for spotting trend exhaustion and potential reversals.
Liquidity Sweep and Local Top Warning
Another analyst, BATMAN, said the liquidity sweep setup has played out perfectly. He warned of a possible local top and a subsequent pullback. The comment suggests traders who chased the move higher may now face a correction.
Long-Term Bullish but Short-Term Pain
Altcoin Sherpa argued that HYPE may not have hit its cycle bottom yet. He predicted a short-term drop to the low $50s or high $40s. But he remains bullish long-term, calling HYPE 'one of the few coins you can hold for months on end.' Trader Ryker went further, predicting HYPE's price could plummet to $32.
Not everyone is bearish. Analyst Gerla noted that HYPE has been moving within a descending channel for the past month. A breakout from that channel could send it 'flying,' he said.
Oversold Territory Could Trigger a Bounce
HYPE's Relative Strength Index (RSI) has dropped below 30, indicating oversold territory. That often signals a potential pump. Ali Martinez also claimed that if bulls can hold the crucial zone at approximately $53, HYPE could rally to $64 and even $75.
The question now is whether buyers will step in at the $53 support level. If they don't, the next stop could be $50 or lower. If they do, the oversold RSI could fuel a sharp rebound.
