Multicoin Capital Sells $8.4M HYPE in Surprise Move

A wallet associated with Multicoin Capital sent approximately $8.41 million worth of HYPE tokens to Coinbase Prime in a sudden move that has sparked speculation about potential sales.

The price of HYPE currently sits at $77.93, and despite being within a bullish EMA structure with support levels at $71.79 (50-period) and $63.54 (200-period), the MACD death cross warning of fading momentum suggests that the token may pull back toward the 50-EMA before any further price increase.

The RSI is currently at 55.29, indicating a potential reversal point, while the upper Bollinger resistance near $82.68 has also been reached. HYPE price prediction models indicate a likely pullback in this scenario.