HYPE token slipped below its $39.74 support and failed to break the $44.71 resistance, prompting a sharp focus on the $35 channel as the next decisive level. A single whale, identified by wallet 0x4E53, accumulated roughly 151,000 HYPE worth $6.09 million and staked it, adding to earlier moves of about 350,000 HYPE.

Wallet 0x4E53’s $6.09 million staking surge

The whale’s activity intensified throughout the week, repeatedly buying HYPE during price weakness and then moving the tokens directly into staking contracts. According to the source, the latest purchase added another 151,000 HYPE, valued at approximately $6.09 million, after which the tokens were locked for staking. Earlier transactions from the same address showed nearly 350,000 HYPE entering staking positions, signaling a long‑term bias rather than short‑term speculation.

Exchange outflows exceed $10 million despite volatility

Spot Netflow data revealed that net withdrawals from exchanges continued to outweigh inflows,with several sessions recording outflows surpassing $10 million. the source notes that holders are moving HYPE off exchanges, a pattern that typically reduces liquid supply available for immediate selling pressure. However, the persistent outflows have not yet sparked a price rally , as broader market weakness dampened any upside momentum.

Technical picture: $35 channel defense after $39.74 breach

After losing the $39.74 support, HYPE’s price fell beneath short‑term ascending support and is now testing the broader channel defense near $35. The daily chart shows sellers regaining control after multiple failed breakout attempts near the $44.71 resistance zone. The Relative Strength Index dropped to around 40 and crossed beneath its moving average, indicating waning buyer strength .

Derivatives sentiment: longs still outnumber shorts

Data from Binance’s top trader accounts show 53 % of positions remain long, while shorts account for 47 % of the total. The long/short ratio stayed above 1.13, suggesting bullish sentiment still holds among larger derivatives traders, even as the spot market struggles. According to the source,if HYPE can hold the $35 region, those traders may look to rebuild strength toward higher resistance zones.

Who will decide HYPE’s next move?

The key unanswered question is whether the $35 channel will hold enough buying pressure to trigger a rebound, or if further outflows will push the token lower. The source provides no insight into the identity or intentions of other large holders beyond wallet 0x4E53,leaving the broader market dynamics opaque.