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$HYPE just lost its support at $40. How low can it go?
Key Support levels: $37, $32
Key Resistance levels: $40, $43
1. Downtrend Intensifies
The market seems to be turning around after $HYPE failed to sustain its price above $40. This level has now turned into a key resistance, and sellers are aiming for $37 next. Should that level also fall, then $HYPE will likely find support just above $32.
2. Bears Return in Force
After being absent for months, bears are back, and they mean business. In the past four days, $HYPE closed each daily candle in red. This has scattered any buyers as the price is in search of support. Hopefully, this cryptocurrency can find some relief around $37, which should act as a key support.
3. Major Bearish Cross
The 3-day MACD did a major bearish cross, which signals that $HYPE is entering a significant correction that can last several weeks, at minimum. With sellers having the upper hand, the price could very well visit the low $30s if buyers remain shy.
