HYPE Price Drops 1.1% Approaching Key Support Zone

HYPE, the perpetual contract, has seen a decline in its price, currently trading at $37.62. This price level is significant as it approaches a support zone identified between $36 and $34.80, which is considered a short-term scalp area. The price is just above an untapped 4HOB cluster near the 0.5–0.618 Fibonacci zone, indicating a potential build-up of liquidity.

As of June 20, 2025, HYPE experienced a 1.1% decline over the last 24 hours, reaching a daily low of $36.82 before recovering slightly. Analysts have highlighted the $36.00 to $34.80 zone as a key area of interest, aligning with an untapped 4-hour order block (4HOB) cluster. The support level is defined at $35.57, with resistance capped at $38.28, making the outcome of this retest crucial for market participants.

The 12-hour chart shows a clear structural formation with prices rotating around a descending wedge that broke in early June. The price action is now compressing just above the mid-range, within a defined Fibonacci support zone between 0.5 and 0.618 retracement levels of the prior move. This compression hints at a liquidity pocket that may attract scalp trading activity, as market participants monitor this zone due to prior reaction levels.

HYPE’s price range over the last 24 hours extended from a low of $36.82 to a high of $38.31, staying within a well-defined band. The upper boundary at $38.28 continues to act as resistance while the lower boundary aligns with the current support. Traders have noted that short-term bids within the $36 to $34.80 range could provide entry points. However, with current price activity hovering just above support, confirmation from volume remains critical. This compression follows a clean sweep of the recent highs, contributing to a potential re-entry into prior liquidity zones.

A key observation in the current structure is the untapped 4HOB cluster located around the highlighted mid-range. This block remains untested, aligning with a horizontal retest of earlier breakout levels. As price returns to this zone, the reaction could determine whether HYPE continues its range-bound trend or breaks for higher levels. The 4HOB retest aligns with the lower bounds of the descending wedge’s prior breakout. Should price revisit this area, the structure allows for short-term plays with tight invalidation. Scalpers are watching for entry confirmations within this narrow support band as price consolidates inside the range.