HYPE - Correction Over, Trend Resuming?

Aug 5

HYPE has been overall bullish, respecting a rising trendline that has consistently acted as non-horizontal support throughout the uptrend. 📈

📌 Price has just rejected this blue trendline once again, signaling that buyers are still defending the dominant trend.

Moreover, HYPE has now broken above the falling correction channel marked in red, suggesting that the correction phase may have come to an end and the next bullish leg could already be underway.

As long as the blue trendline continues to hold as support, we will be looking for trend-following buy setups, targeting the previous all-time highs.

Will the bulls maintain control and push HYPE into price discovery once again? 🤔

⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

📚 Stick to your trading plan regarding entries, risk, and management.

Good luck! 🍀

All Strategies Are Good; If Managed Properly!
~Richard Nasr

Aug 22

Trade closed: target reached