Huge Hype Seller Unleashes $5.96M on Crypto Exchanges

HYPE has faced fresh selling pressure as a large holder transferred nearly $6 million worth of tokens to several top exchanges.

The wallet, which accumulated HYPE 10 months ago, sold off 42.5K HYPE (~$3.12M) to GSR Markets, 25K HYPE (~$1.82M) to Cumberland, and 14K HYPE (~$1.02M) to OKX.

This move has put the token's price prediction models under scrutiny as HYPE trades at $71.75 within its Bollinger band with upper resistance at $75.26 and lower support at $51.68.

The Relative Strength Index (RSI(14)) is currently flashing overbought, while the MACD has confirmed a bullish golden cross, indicating that price action may lead to a probable retracement toward the EMA50 support at $61.03 before any extension higher.