HYPE: Trader Short Position Tops $100M With $23M Loss

Lookonchain flagged that @loraclexyz's $HYPE short has expanded past $100M, leaving the position down more than $23M with liquidation looming at $69.49.

HYPE serves as the native token of the Hyperliquid blockchain with a 1 billion maximum supply for staking and governance. With price testing upper Bollinger resistance at $58.12 while RSI flashes overbought at 79.33, a healthy retracement to the 50-EMA support at $47.13 seems probable before further continuation in this bullish structure backed by EMA200 at $43.21 and MACD golden cross.