Whale Purchases $2.4M HYPE, Signaling Increased Market Confidence
- Whale Purchase Signal: A large wallet accumulated 54,157 HYPE at $44.3, investing $2.4 million, indicating strong conviction during the early recovery phase, which may signal potential for further price increases.
- Improved Price Structure: HYPE's price rebounded from demand zones at $30.33 and $35.06, creating a structure of higher lows, with current trading between $44 and $45, approaching the major resistance at $47.5, reflecting sustained buying pressure and a shift in market sentiment towards optimism.
- Outflows and Supply Compression: HYPE recorded approximately $2.36 million in net outflows, indicating more tokens left exchanges than entered, which reduces immediate selling pressure and enhances price stability as market participants show a preference for holding rather than selling.
- Increased Short Pressure: Short positions faced heavy pressure with nearly $899K in shorts liquidated compared to minimal long liquidations of around $24K, illustrating that bearish traders are losing control during the upward move, which adds additional buying pressure in the market.
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Technical Analysis for MMT
Technical Sentiment Analysis for Momentum (MMT). As of , Momentum (MMT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MMT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MMT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Momentum (MMT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0727 | 0.0947 | 0.111 | 0.133 | 0.148 | 0.17 | 0.186 |
| Fibonacci | 0.0947 | 0.109 | 0.118 | 0.133 | 0.147 | 0.156 | 0.17 |
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