HYPE touched around $89 in early September before pulling back, with prices once dropping to the $78 range. Despite the short-term weakness, buying activity on the chain did not significantly slow down, and market attention shifted to the continuous increase in holdings by large addresses.
A total of 358,600 coins were purchased over 15 days.
On-chain data shows that the address 0x3305 has been continuously buying HYPE over the past 15 days, with a total purchase of 358,609 units, valued at approximately 28.8 million US dollars according to the calculations mentioned in the text. Unlike making a large one-time investment, this address has been gradually increasing its holdings over the past two weeks, making its movements a focal point of attention in the current market.
From a price performance perspective, HYPE previously faced selling pressure around $89, followed by a decline. Whether this current round of decline is more of a pullback from high levels or a sign of a weakening trend still depends on whether the price can hold onto key support levels in the future.
$90 becomes the resistance level above
In the short term, $90 is the upper level that the market will first focus on. If the price reclaims this level, it means that HYPE will return above the previous point of decline, and the market's assessment of this round of adjustment may also shift towards a temporary consolidation phase.
In this case, $100 will become the next key integer level to be watched. However, the increase in holdings on the chain alone cannot determine the price direction; the subsequent trend will still depend on the outcome of the bidding between buyers and sellers in the critical range.
The $76 support level is attracting attention.
In the following aspects, $76 is currently a support level that receives considerable attention. If the price falls below this level, the short-term trend may further weaken, and market attention might shift to the support area around $60.
For now, the short-term trend of HYPE seems to be concentrated around two price levels: above $90 and below $76. Until this range is broken, the continuous 15-day increase in holdings by large investors remains one of the most noteworthy signals in this round of market activity.
