HYPE Whales Accumulate as Price Holds Near $36 Support

HYPE, a prominent cryptocurrency, is currently trading near the $36 support level, a critical juncture that could determine its near-term trajectory. The cryptocurrency's price action is being closely watched by market participants, particularly as whale accumulation and chart structure suggest a potential move toward the $45 resistance level.

Whale activity, characterized by large-scale purchases, often signals confidence in a cryptocurrency's future performance and can influence market sentiment. The accumulation of HYPE by whales indicates a strategic buying pattern, where significant investors are acquiring large quantities of the cryptocurrency. This behavior is typically observed when whales anticipate a price rebound or a bullish trend. The chart structure, which includes key support and resistance levels, further supports the notion of a potential upward movement. The $36 support level is a crucial point; if it holds, it could serve as a launching pad for HYPE to retest higher levels, potentially reaching $45.

The market dynamics surrounding HYPE are not isolated but are part of a broader trend where large investors are quietly accumulating assets while retail investors may be distracted. This strategy, often employed by institutional players, aims to capitalize on market inefficiencies and retail sentiment. The accumulation by whales suggests a bullish outlook, as these investors are positioning themselves for a potential rebound in HYPE's price.

According to analyst BATMAN, the uptrend that began in April remains intact, but now hinges on the token holding above this zone. This area marks both prior consolidation and the lower bound of the rising trendline. A breakdown below may invalidate the bullish setup, while a bounce could lead to a retest of higher levels. BATMAN stated that he is watching the $36–$38 area closely and sees potential for a move back above $45 if the price rebounds. He described the setup as promising but noted the importance of patience until the trend confirms itself. The chart highlights $45.80 as the likely target if the price turns up from the current level.

Large-scale buying activity has added to optimism around HYPE’s potential rebound. Blockchain tracker reported that a major buyer deposited $20 million in USDC into Hyperliquid. The wallet has already spent nearly $6 million to acquire over 165,000 HYPE tokens at an average of $36.08. The accumulation appears ongoing, indicating strong confidence at current levels. This activity suggests some players view the current dip as an opportunity rather than a breakdown. Heavy buying near support levels often signals an attempt to defend price floors or build long positions before a move upward.

At the time of writing, HYPE is trading at $37.01, down 0.85% over the last 24 hours. Over the past week, the token has declined by 1.27%. Despite the dip, daily trading volume remains high, reflecting strong market interest. The next few sessions could determine whether HYPE regains momentum. If support holds, traders may shift focus to reclaiming $45, where the next major resistance lies.