#数字资产生态回暖 HYPE this wave of market movement does feel a bit unsettling. Since November, although there was a decent rebound in early December—jumping from $29.15 to $36.17—this rebound seemed more like a false move, and the overall downward trend framework remains unbroken.

The most frustrating part is the release mechanism of 10 million HYPE at the end of each month. No one can say for sure whether it's released gradually or dumped all at once. Anyway, the market has been under pressure due to this uncertainty. Interestingly, large institutional whales are quietly accumulating, but retail investors are noticeably holding back.

From the daily chart, each low is lower than the previous one, and rebounds are weak, showing a typical downtrend structure. The next support level indicated by technical analysis is around $24.19. Although there are signs of a short-term rebound on the hourly chart, the higher-level trend remains dominant—once the $30 to $31 resistance zone is tested, the sell-off tends to be quite aggressive.

In simple terms, trying to catch the bottom in this kind of market requires mental preparedness; a rebound to resistance might be the right moment to act. For HYPE to truly break out, the market’s capital and sentiment need to recover. For now? It’s better to focus on defense.