HYPE: Wallets Close $6.99M Losing Shorts

HYPE shorts totaling over $6.99M in losses were closed by two wallets tied to a single entity, which then shifted remaining USDC to Coinbase on May 21, 2026.

Price action at $57.8 shows HYPE inside its Bollinger Bands with upper resistance at $62.04 and lower support at $42.91; the MACD golden cross at 3.61 keeps the structure bullish above EMA50 support of $48.83 and EMA200 at $43.83 while RSI at 66.74 stays neutral, suggesting any near-term pullback would likely target the 50-EMA before continuation. This short-covering event arrives amid broader Bitcoin volatility and offers fresh data points for HYPE price prediction models watching for crypto market crash signals or AI industry impact on token flows.