HYPE: Trader Closes Shorts After $7M Loss

HYPE trader closed all shorts one hour ago after losing nearly $7M on the position opened before the token surge, according to on-chain data from Lookonchain.

He unstaked 443,180 HYPE worth $27M and sold 231,899 tokens for $14.15M while still offloading the rest, leaving a 141,500 HYPE short position down over $2.5M unrealized. On the 4h chart HYPE trades at $62.06 inside Bollinger Bands with upper resistance at $65.69, supported by EMA50 at $56.59 and EMA200 at $47.84 as concrete levels; RSI at 58.41 stays neutral yet MACD death cross at 1.47 signals fading momentum, suggesting a healthy retracement toward the 50-EMA before any continuation in HYPE price action.