Hype Whale's $119M Long Position Continues to Ride Bullish Trend
A significant long position in HYPE has been maintained by a whale for over 343 days, yielding substantial gains. The position, valued at $119.12M, was opened with an average entry price of $38.68 and now boasts an unrealized gain of $65.74M after funding costs amounting to $5.67M.
The current price of HYPE is $86.65, sitting above both the EMA50 support at $80.64 and the EMA200 at $75.52. However, the price has been testing the upper Bollinger resistance at $84.96, causing a flash of overbought on the RSI indicator with a reading of 75.22.
A healthy retracement to the 50-EMA support at $80.64 is predicted before further continuation, particularly as the MACD holds its golden cross at 1.14. Traders tracking HYPE price prediction models are advised to take note of this position size as a key on-chain signal amid broader crypto flows.