HYPE Token Pulls Back After Doubling, Price Consolidates Near $32 Ahead of Next Move

The current price of HYPE token is $31.95, lower than its recent high of $40.27 and suggesting a short-term phase of holding steady.

The price stabilizes between $31.51 which is support and $33.34 which is resistance.

Technical markers point to a possible breakout ahead, but the volume in the market is not very high for now.

HYPE’s price has risen strongly in the past, but is now consolidating. Since its recent peak of $40.27, the price of the token has gone up 1.4% to $31.95. Though the pace of movement seems to have decreased, the present structure suggests traders want additional evidence before adding to their positions.

HYPE Holds Above EMA After Sharp Pullback

HYPE's recent price movement drew attention after it doubled its value within a short time interval. The sudden movement generated a high of $40.27 before the sellers began entering the market, leading to the correction of the price. The price range now between $31.51 (support) and $33.34 (resistance) is where the traders are closely watching the possibility of a breakdown or a breakout.

Source: (X)

On the technical front, the token remains above its 21-day exponential moving average (EMA), which stands at approximately $30.57. This indicator continues to offer near-term support, despite the recent pullback. Traders often consider price stability above this moving average as a positive signal in maintaining overall bullish structure.

Volume Cools as HYPE Trades Within Tight Range

Volume data over the past 24 hours shows a moderate trading environment. HYPE recorded a 24-hour volume of 32.976K, while the corresponding USDT volume totaled approximately 1.079M. These numbers suggest that while buying activity has cooled, the token remains under active watch, particularly by short-term participants aiming to capitalize on volatility.

The narrowing range between support and resistance could lead to a breakout scenario if volume returns. However, there is no clear indication yet of which direction the price may move next.

Market Outlook Remains Unclear

While some participants anticipate a move toward the $50 level, current data does not confirm any immediate continuation of the prior rally. Price behavior near the $29–$30 zone, which many are identifying as a re-entry point, may play a key role in shaping short-term sentiment. At present, the HYPE market is in a wait-and-see phase, with no firm direction established.

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