- $HYPE nears long-term support level as volume begins to rise.
- Tornado Cash wallet continues to sell, but buyers are entering.
- HyperLiquid remains Altcoin Sherpa’s top platform for $HYPE trades.
HYPE token is approaching a strong horizontal support level after a long period of declining prices. Analyst AltcoinSherpa noted that the market may be close to a local bottom. A price chart was included showing $HYPE nearing a historically important level, with increased volume beginning to appear.
Although a wallet linked to Tornado Cash continues to sell, some traders are starting to enter positions. The analyst suggested that the bottom may be front-run, as early buyers attempt to take advantage of the expected move before a full reversal.
Sellers remain active but early buyers are entering the market
$HYPE has seen persistent downward movement, but price is now consolidating at a support area that has been tested multiple times in the past. Altcoin Sherpa shared that “the tornado cash seller is still selling,” indicating that downward pressure has not yet fully ended.
However, new volume spikes suggest that buyers are beginning to step in. These early trades may be in anticipation of a rebound. This type of setup is often monitored by short-term traders who respond to price behavior around support zones.
Altcoin Sherpa commented, “This area is a decent spot to take a trade,” suggesting it may present a trade setup. Still, the outcome depends on how the price reacts at this level over the next few sessions.
HyperLiquid mentioned as preferred platform for $HYPE trading
In the same post, Altcoin Sherpa also mentioned HyperLiquid as the preferred decentralized exchange (DEX) for trading $HYPE perpetuals. HyperLiquid has gained popularity among traders for its liquidity and ease of use for leverage-based trades.
As the price of $HYPE approaches a potential turning point, platforms like HyperLiquid may see more activity from short-term market participants. This aligns with recent volume increases shown in the chart, which reflect growing interest.
With $HYPE sitting near a key zone, traders are watching closely to see whether the support holds or breaks. The situation remains uncertain as both selling and buying activity continue to shape the trend.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
