HYPE's recent movement is indeed a bit awkward. Starting from the high of $27.340, the price has been continuously falling as if pulled down by gravity. Every time it tries to rebound, it gets heavily suppressed by selling pressure, sliding down along the moving averages step by step. In the end, it failed to hold the support at $25.279. Although there was a small rebound to $25.415 later, it still closed the day with a loss of 3.45%.

From the trading perspective, the 24-hour trading volume exceeded 204 million USDT, with a volume of 7.8737 million coins. Although there was no sudden surge in volume, the selling pressure remained quite stable, indicating that the bears have been controlling the pace. Most of the previous support levels have been broken, and the bulls are indeed struggling to hold on.

Regarding trading opportunities, my advice is as follows—

**If you want to catch a rebound**—do not blindly throw money in. If you really want to bet on a short-term rebound, wait until the price rebounds to the range of $26.00-$26.50 before entering with a small position. The prerequisite is that the price must stabilize above the recent key resistance level; otherwise, it’s easy to get trapped.

**For shorting targets**, consider this: the first target is $25.00. If it continues to fall, the second target is $24.50. If the trend hasn't completely collapsed, be prepared for a dip to $24.00.

**Set your stop-loss at $26.50**. Once the price breaks this level, the short-term downward momentum is likely to weaken.

My personal view is that this round of HYPE’s downward breakdown is a sign of sustained bearish pressure. Over the past 30 days, it has fallen by 10.92%, and over 90 days, it’s down by 40.34%. The medium-term trend is indeed weak. As long as the $26.50 line holds, the bearish outlook remains. For those looking to go long, the risk of catching the bottom is still relatively high; wait for clear signs of stabilization before acting. For those aiming to short, don’t chase too aggressively—wait for a rebound to the resistance level before entering, so you can more confidently profit from the downward trend.