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Crypto

HYPE Hit with $10.69M Withdrawal from Coinbase

Guavy AI Editorial Team
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A significant withdrawal from Coinbase has sent HYPE (HYPE) under selling pressure. A newly created wallet withdrew $10.69 million worth of tokens, valued at 197.36K units, from the exchange one hour ago.

The address 0xf6000bB2E7579D4eAa741dDb0195187325380c3E is now holding the position, and market observers are closely watching the $54.0 level.

HYPE's price action remains bearish, with its 4h chart sitting below both the EMA50 at $55.25 and EMA200 at $59.16. The MACD indicator is in a death cross formation, indicating a potential trend reversal.

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