$HYPE Lao Lin warned in advance yesterday that a break of key support would trigger accelerated sell-off, and today’s price action has basically delivered 🔥

After breaking the key level, a wave of panic selling and release will follow. Today the lowest wick came in around 59.6, and the first round of release by the bears is basically done. At this point, the level is actually worth watching—after relentless sell-off, market sentiment has turned extreme, and there are signs of short-term capital absorption.

In terms of structure, around 60 is an important defense zone. As long as it holds, HYPE has the chance to run a stretch of oversold rebound. For resistance above, first look at 61.5–62. After a breakout, it may have a shot at retesting the 64–65 area.

Lao Lin personally is firmly bullish—the logic is simple: the panic that needed to be sold has already been shaken out, and continuing to chase shorts isn’t a great trade-off. Next, the focus is whether 60 can stay steady. Holding it would be the starting point for the rebound.

Yesterday the shorts cashed out, and today there’s rotation and turnover at lower levels. The funds that dare to step in around 60 are betting on a wave of sentiment recovery.
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