Whale Sell-off Triggers Fear in HYPE Market
- Whale Sell-off Impact: A major whale, Cooker.hl, sold 45,786 HYPE worth approximately $1.8 million at an average price near $39.39, triggering heightened market fear as this occurred below the critical psychological support level of $40.
- Technical Indicators Show Weakness: Although HYPE briefly rebounded to $40.7 with a daily increase of 4.12%, technical indicators such as the Aroon Down indicator near 92% signal strong downward pressure, indicating that sellers remain in control.
- Weak Derivatives Activity: The derivatives market shows reduced participation, with perpetual contract volume dropping sharply from $7.6 billion to $6.3 billion, reflecting fading speculative interest and reduced trader conviction, which weakens price stability.
- Market Direction Uncertain: The market struggles at the critical $40 support level, and failure to hold this level may trigger a drop toward $38, as traders closely monitor whether buyers can absorb ongoing selling pressure to determine HYPE's short-term trend.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for MMT
Technical Sentiment Analysis for Momentum (MMT). As of , Momentum (MMT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 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 | 0.0946 | 0.111 | 0.126 | 0.143 | 0.157 | 0.174 | 0.188 |
| Fibonacci | 0.111 | 0.123 | 0.131 | 0.143 | 0.155 | 0.162 | 0.174 |
About MMT
About the author
