$HYPE After pulling back from a high of over $97, it is now stuck around $87, seemingly caught between “unlock selling pressure” and “buyback support.”

The chart shows that MA7 has already crossed below MA25, indicating a weak short-term trend, but MA99 is still providing solid support below, suggesting that the medium- to long-term support level remains intact. Trading volume has declined noticeably over the past few days, indicating that both bulls and bears are waiting on the sidelines, with no one daring to make an aggressive move.

So my view is: Don’t chase the price in the short term. Wait until it holds above 87.5 before considering an entry. If it breaks below 84, it may go on to test support at 80. In the medium to long term, HYPE still has value as long as the buybacks continue and protocol revenue does not collapse, but it needs to get through this wave of post-unlock pain.

Trading suggestion: Stay on the sidelines with a light position as the main strategy. Aggressive traders can try a small long position in the 85-86 range, with a stop-loss below 83. More conservative traders should wait for a volume-backed breakout above 90 before entering. Don’t let the “buyback” narrative cloud your judgment—the market is currently more concerned about the “unlock” sword of Damocles. $HYPE
{spot}(HYPEUSDT)