a16z Entity: Withdraws 132K HYPE From Exchanges

a16z associated address reversed course and withdrew 132056.65 HYPE tokens valued at $7.335 million from exchanges over eight hours at an average $55.54, while the same wallet has sent 398000 HYPE worth roughly $24.89 million to exchanges since July 15.

Price action on the four-hour chart shows HYPE at $54.75 inside the Bollinger Bands with the lower support at $53.55 and upper resistance at $61.41. The EMA50 at $58.44 and EMA200 at $62.15 act as stacked resistance overhead while the MACD death cross at -1.09 keeps the structure bearish and RSI at 32.03 leaves room before oversold territory, suggesting any bounce attempt will likely stall at the 50-EMA before retesting the lower band.