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Crypto

HYPE Price Under Pressure After $21M Unstaking Event

Guavy AI Editorial Team
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HYPE
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HYPE's price faced selling pressure after a large wallet unstaked 300.66K tokens worth $21.02M, pushing total unstaking volume to 726.3K HYPE or $50.4M this week.

The transaction was made from address 0x0f991873aab3e14191978946d48f30f624ae9867, sparking concerns over Hyperliquid staking mechanics amid rising whale activity.

With the price at $69.03 testing upper Bollinger resistance at $66.92 and RSI(14) flashing overbought at 79.29, a healthy retracement to the 50-EMA support at $58.64 appears probable before further continuation on the 4h chart.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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