HYPE made another record this week. How high will it go?
Key Support levels: $41, $37
Key Resistance levels: $46, $50
1. New Record Price
The appetite for HYPE appears unstoppable. The price made a new record yesterday at $46 per coin. This comes just days after its previous all-time high at $44. Buyers appear determined to hit $50, which will also act as a key resistance.
2. Uptrend Continues
With a higher high confirmed, HYPE has a clear path forward to continue its record-breaking streak. Expect new records if the bulls maintain their pressure. However, a careful look at the momentum indicators shows that price exhaustion is likely in the near future.
3. Bearish Divergence Calls for Caution
The daily RSI shows a clear bearish divergence. While HYPE’s price is making higher highs, the RSI is making lower highs. This is a clear signal that the uptrend is approaching its final stages. It’s best to be cautious here and prepare for a significant pullback later, especially if the asset falls below its existing uptrend.
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