Technical analysis: HYPE 4H

Just a few weeks ago, most of the crypto community was convinced that HYPE had completed the classic and most well-known chart pattern (Head and Shoulders), which led many to project prices below $40.
However, the market did what it usually does when there is consensus: what happened? It was invalidated and continued its bullish trend, reaching a new all-time high, just as expected.
Subsequently, a new pattern appeared. This time, many began to point out the formation of a double top, anticipating a drop below $50. Once again, the overall sentiment is leaning toward a bearish scenario.
Today, the situation is different.
While most are still focused on finding the top, the HYPE price is developing a new cup pattern,
The interesting thing is that almost no one is talking about this.
When everyone finally sees this structure, they will probably assume it will be invalidated again, just like with the previous patterns. But the difference here:
- The H&S is a bearish reversal pattern that aimed to anticipate a trend change.
- The double top also sought to indicate the exhaustion of an uptrend.
- The cup with handle, on the other hand, is a continuation pattern, aligned with the main trend that HYPE has maintained over the past few months.
As long as the asset continues to respect the current structure, the scenario favors an upward expansion with a target around $98, a level that coincides with the previous resistance before the significant psychological threshold of $100, which everyone is shouting about.
Make your own decisions with this information.
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