HYPE received a significant amount of funding for the recent return. The chain data show that multiple whale addresses buy more than $17 million of HYPE during the price fall phase, giving the market a renewed focus on whether the $60 line can continue to provide short-line support.
HYPE has been relatively strong in the recent past, despite overall encryption market pressure. The coin, which had previously been blocked in a position close to $75 and then fell back, is still operating above $60. According to the article, this zone has become a key observation point for current trends.
There were two large purchases on the chain.
The latest movement on the chain shows that a new wallet from Coinbase Prime proposes 222,493 HYPEs at a value of approximately $14.41 million. Another whale address received 44,986 HYPEs from FalconX within hours, valued at approximately $2.87 million.
In total, these transfers exceeded $17 million. Markets usually see such large amounts as signs of a reduction in short-term liquidity chips. If there is continued buy-in in the immediate vicinity of $60, this may be further enhanced.
60-63 short-line focus.
In terms of the dynamic structure, HYPE is still in a larger upswing, and the recent reversal has not destroyed the overall upwards. The price was previously blocked in the vicinity of the corridor, that is, in the approximately $75 area, and then withdrew to the central support area of the corridor.
Currently, 60 to 63 United States dollars are considered critical short-line locations. If this area continues to hold, there will still be an opportunity to retest the 70-75 dollar area. If not, the response may be increased.
The fall in holding points to a cooling of leverage.
It is also mentioned that the size of the contracts has continued to fall, while prices remain relatively high. This usually means that some highly leveraged traders have left the field and that the speculative positions in the market are clear.
Such changes do not necessarily lead to a direct rebound, but they often help to reduce the risk of a chain of liquidation and make it easier to stabilize prices at the volatile stage. At the same time, the demand area in the chart is concentrated in US$ 36 to US$ 40, which, if subsequently broken by US$ 60, could become the next stronger support.
Overall, the current HYPE observations focus on two points: whether or not the whale buys continue, and whether or not it remains stable above $60. Market sentiment may be further repaired if the purchase is sustained and the price is back between $70 and $75; if support fails, the return space may continue to open.