Matrixport Wallet Sells $17.3M HYPE

A wallet tied to Matrixport just deposited 403,290 $HYPE tokens valued at $17.3M into HyperLiquid, then offloaded 100,000 $HYPE for 4.238M $USDC at $42.38. This move leaves the wallet with 303,290 $HYPE worth around $13M, and insiders expect the rest to hit the market soon, potentially pressuring HYPE price prediction in this crypto market volatility. Over the past six months, similar large dumps have triggered short-term dips before rebounds, echoing patterns seen in Bitcoin (BTC) whale activities during recent rallies.

Zooming into the 4-hour chart, $HYPE trades at $43.17 in a bullish structure, hugging the EMA50 at $42.14 as immediate support while the EMA200 at $40.85 anchors longer-term floors. Momentum sits neutral with RSI(14) at 54.12, but the MACD(12,26) flashes a bearish death cross at 0.49, signaling potential exhaustion. Price dances inside volatility bands, testing the upper resistance at $45.07 without breaking out, while lower support at $40.86 could catch any pullback—watch for confluence here as a rejection off the upper band might drive a swift retrace to EMA50 before bulls regroup, especially if this Matrixport sell-off cascades into broader crypto market crash fears.