MulticoinCapital Unstake Hype Tokens Worth $58.86M

A major wallet linked to MulticoinCapital has unstaked 1.07M HYPE tokens worth $58.86 million, according to recent data. The assets were deposited into Coinbase Prime six hours ago, following a purchase through Galaxy Digital OTC at an average price of $37.50 per token.

The move comes as HYPE trades below its EMA50 resistance at $58.45 and EMA200 at $62.15, indicating a bearish trend structure in the market. The MACD death cross at -1.06 is also putting downward pressure on the price.

Despite this, HYPE remains within the Bollinger bands, with a lower support level at $53.62 and a neutral RSI of 35.21. This suggests that the price may test its floor before any sustained recovery.