Multicoin's Massive HYPE Token Dump Fuels Price Surge

HYPE has reached an all-time high despite Multicoin Capital moving 427,422 HYPE tokens worth $31.74 million into Coinbase Prime over three days.

The price action shows a bullish structure with EMA50 support at $65.69 and EMA200 at $61.12, but the MACD golden cross of 4.9 adds conviction while the RSI at 78.4 flags overbought conditions against upper Bollinger resistance at $84.76.

This points to possible near-term consolidation before continuation in HYPE's price action.