HYPE Uptrend Break: Traders Eye $47–$54, $38–$43 and $34
HYPE has broken its uptrend, pushing traders to refocus on lower support zones and increased sell-off risk. Analyst Michaël van de Poppe said he will turn more passive on HYPE trades because the last comparable trend break saw a drop from around €50 to €15.
Key levels are now in focus. Crypto Patel highlighted a weekly demand area where buyers may defend structure: the $47–$54 fair value gap and a bullish order block around $38–$43. He added that these areas overlap with the 0.382–0.5 Fibonacci retracement zone, creating a potential confluence support band.
For broader momentum, Patel placed macro invalidation near $34, saying a weekly close below the 0.618 Fibonacci level would weaken the bullish structure. If HYPE fails to hold $47–$54, attention may shift to $38–$43; if that breaks, pressure could build toward $34.
Traders are watching for whether HYPE shows a clear reaction inside these demand/liquidity zones. A strong bounce could revive expectations of a move back toward earlier highs, while weak demand may keep downside risk elevated in the next sessions.
Bearish
This is a bearish setup for HYPE because the uptrend has already failed, and both analysts frame the move as a potential continuation toward lower liquidity/support. Van de Poppe directly links the current structure to a prior event where HYPE fell sharply (roughly €50 to €15) after losing trend support. That historical parallel increases trader caution.
In the short term, price behavior around $47–$54 will likely decide whether the market can stabilize. If HYPE cannot react convincingly there, attention shifts to $38–$43 and then $34, with Patel treating a weekly close below the 0.618 Fibonacci as key bearish confirmation.
In the longer term, the presence of “institutional-style” demand areas (FVG/order block + Fibonacci confluence) means a bounce is still possible. However, the market now needs proof—clear reactions and preservation of weekly structure—before dip-buying can regain momentum. Until that confirmation arrives, the dominant probability leans toward continued downside or choppy liquidation risk.