HYPE Price Nears Oversold Zone Amid Continued Exchange Inflows

HYPE's price has dropped by about 24% over the past month and is now trading near $54.06.

The recent decline followed repeated failures to hold gains above the $60 area in July, while the wider crypto market also lacked clear direction.

Large holders have continued moving HYPE to centralized exchanges, with Multicoin Capital sending 137,100 tokens worth around $7.51 million and Bitwise transferring 22,463 tokens valued at nearly $1.23 million to Coinbase.

The token remains below its 50-day and 100-day moving averages, but the RSI near 34 shows HYPE is approaching oversold territory.