HYPEUSDT 4H chart Analysis ( as of April 6, 2026) ‌

$HYPE had that big parabolic run mid-March, topped out near 42-43, and has been in a clean downtrend ever since. You can see the two descending trendlines (blue upper one and red lower one) acting as a ceiling price keeps getting rejected by them. Right now we’re sitting at 36.714, down a tiny bit on the last 4H candle.

We bounced off the ~35 area earlier this month, ran up to about 37.7, then got rejected and are pulling back slightly. Still very much inside the downtrend channel, no real breakout yet.

My current trade setup (bearish bias short the trend):

🔰Entry: Short now at market (~36.71) or better, 36.80–36.90 on a quick wick up if you want a slightly tighter entry.

🟢Take Profit:
- TP1: 35.80 (first minor support)
- TP2: 35.00 (lower channel + gray support zone)
- TP3: 34.20–34.00 (if it really cracks the bottom)

🔴Stop Loss: 37.80 (just above the recent swing high and the red trendline gives it breathing room but keeps risk tight)

✅ Risk/Reward: Roughly 1:2.2+ if you scale out at TP1/TP2. Pretty clean setup on the 4H.

If the price suddenly breaks and closes above the red trendline (~37.5–37.7 zone) with strong volume, the short would be invalidated and I’d flip to a long instead (targeting 38.5–39 first). But right now the chart is still screaming “downtrend continuation.”

⚠️ Please Note: This is just my chart analysis not financial advice. DYOR, always use proper risk management.

You leaning short with me or you seeing a reversal play? Drop your thoughts in the comments 👇👇

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