HYPE: Smart Money Deposits 131K Tokens to Kraken

HYPE faces continued selling pressure as address 0x13d…cfa8a deposited 131,421 tokens to Kraken since September 28 at an average $89.56, booking a potential $11.26 million profit on a $3.87 cost basis for a 2214% return.

Hyperliquid Labs confirmed a 3.75 million token OTC sale worth roughly $329 million to a single institution on September 30, with the wallet’s first suspected sales occurring just before the announcement and additional transfers yesterday plus one hour ago.

On the 4h chart HYPE trades at $87.57 inside the Bollinger Bands with upper resistance at $96.05 and lower support at $86.23 while the EMA50 at $90.1 caps price and the EMA200 at $87.46 offers thin floor; the MACD death cross at -0.78 keeps the structure bearish and RSI at 36.62 shows room before oversold territory, suggesting any bounce into the $90.1 EMA50 will likely meet fresh supply before a test of the lower band near $86.23.