HYPE Weekly Analysis Feb 3

HYPE, with a strong weekly %20,16 rise, is expanding the accumulation phase while pausing in the overbought zone with RSI at 70,70; under BTC’s bearish trend, it carries altcoin rotation risk, strategic patience is critical.

HYPE in the Weekly Market Summary

HYPE traded in the $29,53 – $38,42 range over the past week, delivering an impressive %20,16 rise and positioning its current price at $37,10. This move is supported by a $2,21 billion volume profile, with the market structure maintaining the overall bullish trend, though the short-term trend filter points to the $45,07 resistance, suggesting a cautious stance. In the bigger picture, HYPE is showing signals of transitioning from accumulation to potential distribution; MACD confirms bullish momentum with a positive histogram, while sustained settlement above EMA20 ($28,72) ensures trend integrity. For portfolio managers this week, position scaling by monitoring multi-timeframe confluence should be prioritized – a structure-focused approach is essential over sudden FOMO.

Trend Structure and Market Phases

Long-Term Trend Analysis

The long-term trend structure draws a clear bullish character for HYPE; the price is steadily positioned above EMA20 ($28,72), sustaining higher highs and higher lows formation. On the weekly timeframe, the market cycle points to the final stages of accumulation – the recent 20% jump is backed by expanding volume reflecting institutional accumulation. However, RSI at 70,70 carries divergence risk in the overbought zone; the bullish scenario remains dominant as long as trend integrity is preserved above the $31,84 support line. In the macro context, assuming we are in the early phase of the crypto super cycle, momentum-focused altcoins like HYPE may offer rotation opportunities, but potential increases in BTC dominance heighten trend break risk. Market structure should be managed by the principle ‘trend is intact until supports hold’ – any lower low formation (below $27,44) would question the long-term structure.

Accumulation/Distribution Analysis

Accumulation phase characteristics dominate: The past week’s volume-expanding rise ($2,21B profile) includes spring and test patterns signaling smart money inflow – the $29,53 low level functioned as a strong buying wall. Distribution patterns are not yet dominant, but RSI overbought and MACD histogram slowdown increase upthrust risk; possible fakeouts at the $38,42 high should be monitored. According to Wyckoff methodology, HYPE is transitioning to markup phase – consolidation around $35,31 would be ideal for re-accumulation. Distribution signals (sign of weakness) trigger on $35,31 breakdown; the current phase offers scaled long opportunities for position traders, but stop-loss discipline is essential.

Multi-Timeframe Confluence

Daily Chart View

On the daily timeframe, 3 support/2 resistance confluence (total 17 strong levels) supports the bullish bias; as long as price holds above $35,31, the EMA20 breakout is confirmed. Momentum peaks with RSI 70+, but MACD positive divergence positions short-term pullbacks ($35,31 test) as digestion opportunities. Market structure remains intact with internal trendline support – daily close above $38,81 completes the 1D bullish flag and opens the $43,80 target.

Weekly Chart View

From the weekly perspective, a balanced consolidation prevails with 3S/3R balance; the latest candle confirms markup with a strong engulfing bullish formation. Although the trend filter is bearish ($45,07 resistance), weekly Supertrend is rising – $31,84 major support (82/100 score) defines phase transition. Confluence is reinforced by 4S/5R on the 3D timeframe; weekly close above $38 opens measured move to $68,48. Position traders should wait for multi-TF alignment.

Critical Decision Points

Main supports: $31,84 (82/100 – pivot accumulation), $35,31 (73/100 – short-term test), $27,44 (68/100 – trend breakdown). Resistances: $38,81 (74/100 – breakout level), $43,80 (62/100 – intermediate target), $45,07 (trend filter). These levels are inflection points that will determine direction; $38,81 breakout creates bullish confluence, while below $35,31 signals bearish alert. Volume profile confirmation is required – follow levels in HYPE detailed spot analysis.

Weekly Strategy Recommendation

Upside Scenario

If $38,81 breakout is confirmed (daily/weekly close), scale into long positions – first target $43,80, extension $68,48 (R/R 1:3+). Manage with EMA20 trailing stop; momentum increases if BTC hits $79k+. Check HYPE futures market data for futures positions.

Downside Scenario

Short opportunity on close below $35,31 (target $31,84, risk $12,40); protect existing longs with $35,31 stop. Wait for RSI divergence for distribution confirmation – early exit is strategic.

Bitcoin Correlation

HYPE is highly correlated with BTC (altcoin rotation dependent); BTC at $78,446 (+%4,48) in downtrend, Supertrend bearish – HYPE pulls below $35 if $78,426 support breaks. Monitor BTC resistances $79,312/$83,548; BTC below $74k triggers HYPE distribution via dominance rise. BTC stabilization is essential for altcoins – check correlation charts in HYPE and other analyses.

Conclusion: Key Points for Next Week

Next week: $38,81 breakout vs $35,31 test; monitor BTC $78k support and RSI reset. Enter positions with confluence confirmation, stay patient – bullish intact unless trend structure breaks.