HYPE Token Price Weakens Amid Broader Crypto Market Downturn

The recent drop in HYPE's price below $37 has led to growing bearish control across short-term price structure movements. This is reflected in the token's movement on various charts, including the daily and lower timeframe charts. Momentum indicators such as the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) show declining strength and capital outflows, reinforcing bearish conditions.

The Fibonacci levels from the latest upward move indicate further room for decline, with $32.44 and $29.5 standing out as key areas where buyers may re-enter the market. These levels fall within a commonly watched demand zone, but current signals suggest that traders are not rushing to accumulate at these prices yet.

On the four-hour chart, HYPE maintains a bearish structure with a clear pattern of lower highs. The rejection below $42 in late March established a key resistance level, and the $29.55 to $32.5 range remains the main demand zone. Buyers are expected to defend this region if the retracement continues in the near term.