Analyst Says He ‘Nibbled’ HYPE Below $34, Eyes $28 Area as Downtrend Persists

Why It Matters

1% in 24 hours.

Summary

Pseudonymous analyst Pentoshi said he took a small spot position in Hyperliquid’s HYPE token under $34, filling roughly 20% of his target and planning to add toward $30–$28 and “go hard” if it falls below $30. He flagged a broader downtrend with lower highs, thin order books and a potential unstaking-driven supply overhang, so he’s keeping size small, using resting bids and avoiding chasing bounces. The move underscores trader caution around HYPE’s price discovery and short‑term sell pressure, with implications for token liquidity and Hyperliquid’s governance/staking dynamics as market structure remains fragile; CoinDesk data showed HYPE near $36.32, up 2.1% in 24 hours.