HYPE on Fire: Bullish Breakout Imminent from Falling Wedge!

HYPE Rockets Past Key Moving Averages

HYPE is absolutely crushing it, folks! This bad boy is on the brink of a monster breakout from a falling wedge pattern, and it's already blasting past the 20-day EMA, 9-day SMA, and 50-day SMA like they're standing still!

From All-Time Highs to Bouncing Back

After hitting the stratosphere at $35.02 back on December 21, HYPE took a nosedive into a downtrend, etching out that falling wedge. But guess what? It bottomed out near $9 on April 7, kissed the wedge's lower trendline, and then BOOM! It bounced back, smashed through the $17.30 resistance, and now it's soaring above all the major moving averages. We're talking SMA 9, EMA 20, and SMA 50. And get this—the 20 EMA and 50 SMA just had a bullish cross, screaming trend reversal!

Bullish Momentum Picking Up Steam

The RSI is sitting pretty at 63.51, telling us that bullish momentum is absolutely picking up. And the MACD? It's showing a bullish crossover with both lines above zero. This thing is on fire!

Next Stops: $20 and Beyond

If HYPE can hold strong above $18, the next big resistance is that psychological $20 level. And it's not just any level—it's where the price found support multiple times in January and February before breaking lower in early March.

Once $20 is in the rearview mirror, keep your eyes peeled for $26—that's where the upper trendline meets the lower high from mid-February.

Long-Term Target: Back to $35?

If this wedge breakout gets confirmed and HYPE holds above $18 with volume cranking up, we could be looking at a long-term target of $35. That's right, back to where the upper trendline of the falling wedge started!

Bearish Scenario: Watch Out Below $18

But hey, it's not all sunshine and rainbows. If HYPE can't hold above that $18 support zone, especially with increasing sell volume, the bullish thesis goes out the window. A drop back below the 50-day SMA and 20-day EMA would mean a loss of momentum, and we could see a retest of $17.30 or even a slide back to the wedge's lower trendline near $12–$13.