Matrixport Wallet: Sells 100K HYPE Tokens

A wallet tied to Matrixport just offloaded another 100,000 $HYPE tokens, pushing their total sales to 200,000 $HYPE exchanged for $8.447 million USDC at an average price of $42.24. This follows an initial deposit of 403,290 $HYPE worth $17.3 million into HyperLiquid, with the first 100,000 sold at $42.38 for 4.238 million USDC. The wallet now clings to 203,290 $HYPE, valued at $8.65 million, signaling potential further dumps that could pressure HYPE price prediction in this volatile crypto market. Traders eye this amid broader flows, reminiscent of last quarter's Bitcoin (BTC) whale movements that sparked a brief crypto market crash before recovery.

On the 4-hour chart, $HYPE trades at $42.75 in a bullish structure, hugging the EMA50 at $42.21 as immediate support while the EMA200 at $40.9 anchors longer-term bullish bias. Yet MACD shows a bearish death cross with a reading of 0.18, clashing against neutral RSI at 51.02 that hints at indecision. Price sits snug inside Bollinger Bands, testing the upper resistance at $44.76 as a volatility exhaustion point—confluence here suggests sellers could drive a retracement to the EMA50 support before buyers reclaim control, especially if broader AI industry impact from tokens like TAO fuels cross-market momentum.