- Hype has risen almost 11% to reclaim the level of $ 39, closer to his all time.
- Could this be the scene for a fast shakeout if livered lungs are pressed?
When it comes to hyperliquid [HYPE]It starts to look as if traders have been waiting for Bitcoin [BTC] To blink so they could jump.
On June 9, BTC printed its longest green candle in a month, an increase of 4%. And immediately at the point the hype followed with an explosive increase of 11.22%, $ 39 struck and ends the day to $ 39,171.
This marks the second time in June that Hype has taken a swing at the $ 40 resistance. The last two attempts? Both were knocked down by wider market weakness and dragged the hype to the red.
Source: TradingView (Hype/USDT)
But the current structure shows more resilience.
RSI remains under control, even on lower schedules. This outbreak is now reverse With a sharp peak of 11.90% in open interest, which pushes it to a record of $ 1.69 billion, even higher than the peaks that were seen during the last two meetings.
So, will this be the outbreak that finally knew the $ 40 food wall and launches hype in price discovery? It is technically coordinated, but it all depends on whether conviction can overwhelm the next wave of capitulation.
Hype warms up: is a breakout just one candle gone?
Smart money that steps at the top is often a powerful signal, and this time it is no exception. Lookonchain marked A fresh whaling: 126,353 hype is scooped for an average cost of $ 39.1.
Of course, that is conviction against a key resistance. But does that indicate a confirmed soil? Not entirely.
Previous attempts to new all time were also awarded heavy whale inflow and increasing open interest. On 26 May, Hype actually tagged his record high of $ 39.12, supported by a subsequent record $ 1.39 billion in OI.
Source: Coinglass
The setup looked bullish until it wasn’t. What followed was a quick reversal. A wave of Deleveraaging dragged Oi to $ 1.19 billion and Hype was withdrawn to $ 31.41 in less than five days.
Now, with overheating signals that crawl back in, Fomo is probably on the sidelines. A pullback? Still a lot in the game.
That said, hype is glued to BTC. If Bitcoin can contain $ 109k or can endure $ 110k, this can quickly turn the sentiment. Fomo is running back and $ 40 finally breaks.
But holding that level? Still a tough question. With the liquidity strongly concentrated in derivatives, the risk of a sharp settlement remains increased.