#加密市场回调 Market fluctuation intensifies! The recent price movement of HYPE makes it difficult for investors to remain calm. Prices encounter resistance near the 38.02 USD MA, with downward momentum gradually strengthening, and bears dominating in the short term.

Technical analysis shows that a head and shoulders pattern is forming on the daily chart, a pattern that has historically indicated a potential deeper correction unless the resistance level of $50 can be effectively broken. The Relative Strength Index ( RSI ) indicates that there is still room for a pullback in the short term, but based on the rebound from the oversold area, bearish pressure seems to be gradually easing.

It is worth noting that the liquidation data shows that the liquidation amount of HYPE short positions in the past 24 hours has exceeded $292,000. Market volatility continues to rise, and the trading atmosphere is tense, with participants operating cautiously.

Meanwhile, large capital players are still actively positioning themselves. These big players continue to increase their holdings, possibly waiting for the liquidation wave to recede in preparation for a short-term rebound. This also means that the short-term direction of the market is likely to be influenced by the activities of large capital— the larger the scale of liquidation, the more apparent the pressure on prices; and when large capital begins to absorb selling pressure, it may trigger a short-term reversal.

Overall:

HYPE is facing resistance in the short term, with bears temporarily in control.
Technical indicators EMA and head and shoulders pattern both suggest the presence of downside risk.
The increase in liquidation volume combined with large funds entering positions brings high Fluctuation and may also contain rebound opportunities.

For short-term traders, grasping the rhythm is crucial. Although there is a large fluctuation, it also contains many trading opportunities.