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Crypto

Multicoin Sends $59M in HYPE Tokens to Coinbase Amid Price Resistance

Guavy AI Editorial Team
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Multicoin Capital has transferred approximately $59.04 million worth of HYPE tokens to Coinbase over the past 30 days, with a notable transfer of 81.3K tokens worth $6.69M occurring just seven hours ago.

The current price of HYPE is $83.5, placing it within the Bollinger band, but testing upper resistance at $85.38. The token's support levels are provided by its 50-EMA at $77.91 and its 200-EMA at $66.99.

Despite an RSI of 58.55 indicating room for further growth before reaching overbought territory, the MACD death cross signals a near-term loss of momentum that could pull the price back to the 50-EMA.

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