Yigit Taha OZTURK 
One of the newest players in the cryptocurrency market, HYPE, experienced a brief surge following the recent ETF news. However, the coin continues to struggle within its prevailing downtrend. As a newly listed asset, it remains difficult to define clear support and resistance zones through technical analysis, but several key levels have emerged based on the latest price action.
Currently, the $12.40 level is acting as a critical support zone for HYPE. Maintaining this support is crucial for attracting short-term buyers back into the market. If the $12.40 support fails, there is a strong possibility of a further decline toward the $12.00 region, which stands as the next key support level.
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On the upside, any potential recovery for HYPE will depend on its ability to break through the descending trendline resistance. If this area is reclaimed, the next target lies at $14.70, a significant resistance level. A breakout above $14.70 could lead to renewed bullish momentum and open the door for additional resistance levels to come into play.
In the short term, market conditions and overall trends in the cryptocurrency space will continue to be key factors for HYPE’s price direction. Investors are advised to closely monitor support breakdowns and resistance breaches, as these events could trigger heightened volatility.
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