Based on Standex's 15-minute chart, a KDJ Death Cross and a Bearish Marubozu were observed on July 14, 2022 at 13:30. This indicates a shift in the momentum of the stock price towards a downward trend, with a potential for further decline. Sellers are currently in control of the market, and it is likely that this bearish momentum will continue.
Over $40 million worth of HYPE tokens are being unstaked ahead of Kinetiq’s Hyperliquid debut, signaling strong institutional interest in the new liquid staking protocol. The strategic move, led by three major whale wallets, is reshaping sentiment across the Hyperliquid ecosystem. According to Messari, a total of 1 million HYPE tokens are being withdrawn from staking pools, with 847,000 of those tokens (worth about $33.5 million) coming from these key addresses [1].
Kinetiq, designed to bring new functionality to Hyperliquid, introduces automated validator scoring, dynamic stake distribution, and a dual-token system that rewards users with kHYPE and iHYPE. The latter is tailored for institutional partners such as FlowDesk and IMC Trading. With Hyperliquid recently enabling CoreWriter Contracts, Kinetiq can now be directly integrated into the mainnet, removing previous limitations and allowing more complex smart contract interactions [1].
The large-scale unstaking ahead of Kinetiq’s launch suggests users are preparing to restake within the new system, seeking improved yields and flexibility. Market trends reflect growing caution, with HYPE trading at $37.66, down 5.03% over the last 24 hours. Price action shows a downward trend following a peak near $39.60 earlier in the day. Key support has formed around $37.00 to $37.20, while significant resistance lies between $38.20 and $38.40. Volume has jumped to $276 million, a 44.58% increase, possibly due to fear-driven selling or positioning ahead of Kinetiq’s launch [1].
The MACD indicator shows bearish momentum, and the RSI sits at 49.88, neither overbought nor oversold. A further dip below 40 on the RSI could suggest weakening demand [1].
References:
[1] https://coinedition.com/hype-token-unstaking-kinetiq-launch/
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