$HYPE Alert: Whale Defense at $24 – Recovery or Trap?
After a 3-week correction, the data shows big players are stepping in to hold the line.
Here is what you need to know to trade this move:
The Data Breakdown
Whale Action: On-chain data shows a major whale defended the $23.91 level with a $2.4M USDC injection. This is our "Line in the Sand."
TradFi Pivot: Hyperliquid’s TradFi perps (Tesla, Silver) now make up 31.6% of total volume. This isn't just a "crypto token" anymore; it’s a 24/7 global stock exchange.
Sentiment: "Extreme Fear" (Index: 11) is usually where the smartest entries are made.
📈 Trade Setup (Risk-Managed)
Zone of Interest: $24.50 – $26.00 (Accumulation Zone)
Target 1 (Conservative): $30.50 (20-day EMA Resistance)
Target 2 (Mid-Term): $38.00 (Fibonacci 0.382 Level)
Stop-Loss: Below $23.50 (Daily close below the whale defense level invalidates the bull case).
⚠️ The "Bear" Warning
Watch out for the March 6th Unlock. Approximately 9.9 million tokens (~1% of supply) are hitting the market. If we don’t reclaim $30 before then, expect a retest of the $20 psychological floor.
Summary: The trend is currently bearish, but the volume is building. Keep your leverage low and watch the $24 support like a hawk.
What’s your move? Are you 🐂 Bullish or 🐻 Bearish on HYPE?
Let's discuss below! 👇
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