HYPE is now 65.8u. There’s still some distance from its all-time high of 76.7u, and it has been moving down these days.

When it was rising, buybacks were propping it up, and most of the profits were used to buy its own coins—this logic hasn’t changed.
But I’m bearish in the short term, for several reasons:
It has jumped a lot over more than a month, and it’s already moved very fast in the short term—this pace is hard to sustain.
On August 6, there’s another batch to be unlocked, with nearly $660 million set to enter the market—this risk hasn’t been cleared yet.
After pulling back from the high point, it suggests that people above are reducing positions; momentum is no longer as strong as before.
Short-term bearish: if it rebounds to around 70u, you can consider opening a short. Take-profit: 58u to 60u. Stop-loss: above 73u.
If it breaks below 60u, it gets even more bearish underneath—you can look at 55u#HYPE $HYPE