HYPE: Trader Down $20.95M on Short Since $28.79
OnchainLens flagged a trader short HYPE since $28.79 who now sits $20.95 million underwater on the position while the token trades near $77.44 on the 4-hour chart.
SourceAnalysis
OnchainLens highlighted a persistent short on HYPE opened at $28.79 that has now produced $20.95 million in unrealized losses.
Price action on the 4-hour chart shows HYPE locked in a bearish structure below both the EMA50 at $81.33 and EMA200 at $84.0. With the RSI at 38.96 the move still lacks oversold conviction, while the MACD golden cross at -1.56 hints at fading downside momentum. Price is pressing the upper Bollinger Band at $81.76; a rejection here would likely target the lower band support at $75.28 before any sustained relief rally develops.
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