HYPE Tests Key Support After 22% Pullback

HYPE is down 22% from its $75 all-time high and fell below $60 after rejecting another retest near $76, pushing price toward the 50-day exponential moving average that has supported the rally since March. The recent pullback resembles the May 2025 consolidation, with the relative strength index rolling over from overbought levels while staying above typical trend-reversal readings.

Onchain indicators show a cautious picture. Aggregated spot cumulative volume delta (CVD) has improved from recent lows but remains deeply negative at nearly $95 million, suggesting selling pressure is easing rather than aggressive accumulation. Spot buyers have started to absorb supply near current levels, though demand is modest compared with about $110 million in selling during the decline from $76 in early June.

hype, 22% pullback, all-time high, $60, $75, 50-day ema, rsi, cvd, spot buyers, $110m selling