$HYPE Selling Pressure Set Dominance HYPE🎯🎯🎯
Klinger Oscillator (KVO) is currently at level 8.09K on the daily chart, just above the zero line with a clear downward direction. The signal line (green) has turned downward, and KVO (blue) is approaching a potential bearish crossover.
The Klinger Oscillator measures the difference between two volume-weighted exponential moving averages of price to determine whether money is flowing into or out of an asset. When this indicator rises above zero, buying pressure dominates; if it falls below zero, selling pressure takes over.
Price Levels for HYPE to Watch
The daily chart shows that HYPE has completed a breakdown of the double top pattern, and it is currently in progress. The price is now at US$38.27, moving around support at the same level.
The full downside projection of this pattern is calculated from the breakdown point at the neckline of US$35.03. This pattern directs HYPE to US$21.64 if the breakdown is confirmed, corresponding to a decline of 37.49% that can be seen on the chart.
Price Analysis of HYPE.
Keeping the price above US$35.03 is critical for bulls. Only a daily close below this level will confirm the double top pattern and open the way to US$32.33 first, then to US$28.69.
To invalidate the bearish scenario, HYPE must reclaim US$38.80 and then break strongly above US$42.67. If the price can break above US$42.67, the double top structure will completely disappear, shifting the bias back towards resistance at US$47.15.