HYPE Token Falls 4% Amid $5.31 Million Whale Sell-Off
Hyperliquid (HYPE) Update
- Current trading price around $40.5, down over 4% in the last 24 hours from a peak of $45.5 earlier this week.
- Market capitalization decreased by 4.5% to $13.52 billion amid selling pressure in broader crypto markets.
- A whale sold 126,772 HYPE tokens for $5.31 million at an average price of $42, realizing a profit of approximately $2.89 million.
- Eyenovia announced a $50 million private placement on June 17 to acquire over 1 million HYPE tokens and stake them on Anchorage Digital.
- The firm plans to rebrand as "Hyperion DeFi" under ticker HYPD.
- Technical indicators show MACD in negative territory but weak selling pressure suggests potential bullish reversal.
- Bollinger Bands indicate consolidation, with current testing at the lower band ($38.25) suggesting oversold conditions.
- If RSI surpasses 50, resistance may arise around $44.00 and $45.50, with a break above $45.50 indicating potential for new highs.
- Short-term weakness expected due to increased supply from whale sell-off, but strong buying interest around $39–$40 could provide support.
- Analyst Henry anticipates upward movement, targeting a price above $55 by the end of June.
