HYPEUSDT 4HHYPE ~ 4H
#HYPE At Time Frame 4H, Successfully exited this descending channel. The bulls are in control for now. Continued increases are expected from here
Hypelong
HYPE LONGThe HYPEUSDT pair is currently in a corrective phase after a strong upward move. The price has recently broken a significant level and is now testing the liquidity zone marked by a range of support (highlighted by the gray box). A potential reversal may occur as the price has started to form an MSB (Market Structure Break) and is showing early signs of bullish momentum.
Trade Entry:
Entry Level: Around $21.80, with price showing initial bullish signs.
Stop Loss: A stop is placed below the market structure break (MSB) at $18.52 to protect the position from further downside risk.
Targets:
Conservative Target: The first target is set around $26.18 (highlighted in blue), which aligns with the upper trendline and potential resistance levels.
Aggressive Target: A more extended target can be considered above the $35.74 mark depending on further price action.
Trade Rationale:
Trend: The market has been in a downtrend recently but is showing early signs of reversal.
Price Action: The price is testing a significant support zone, with bullish confirmation from the MSB.
Liquidity: The trendline liquidity levels provide an excellent potential for further price push toward the conservative target.
HYPE LongMarket Overview: Price is currently in a consolidation phase near the support level, showing signs of potential bullish movement. The key support level is identified at approximately 21.416 USDT.
Entry Point: The ideal entry zone lies just above the support region around 21.489 USDT. A breakout or price action showing strength above this level would be considered a signal to enter long.
Conservative Target: The first target for this trade is set at 30.000 USDT, where price may encounter resistance. It offers a more cautious take on the potential upside.
Extended Target: A more aggressive target is placed around 35.743 USDT. This is the extended target zone where price could potentially head if the trend continues favorably.
Stop Loss: The stop loss should be placed just below the support level at 18.535 USDT. This ensures minimal risk in case the price moves against the position.
Trade Notes:
Patience is required to wait for confirmation of the breakout.
Monitoring price action around the support zone is crucial for making adjustments.
Consider trailing stop orders if price moves toward the extended target.
