HYPE LONGThe HYPEUSDT pair is currently in a corrective phase after a strong upward move. The price has recently broken a significant level and is now testing the liquidity zone marked by a range of support (highlighted by the gray box). A potential reversal may occur as the price has started to form an MSB (Market Structure Break) and is showing early signs of bullish momentum.
Trade Entry:
Entry Level: Around $21.80, with price showing initial bullish signs.
Stop Loss: A stop is placed below the market structure break (MSB) at $18.52 to protect the position from further downside risk.
Targets:
Conservative Target: The first target is set around $26.18 (highlighted in blue), which aligns with the upper trendline and potential resistance levels.
Aggressive Target: A more extended target can be considered above the $35.74 mark depending on further price action.
Trade Rationale:
Trend: The market has been in a downtrend recently but is showing early signs of reversal.
Price Action: The price is testing a significant support zone, with bullish confirmation from the MSB.
Liquidity: The trendline liquidity levels provide an excellent potential for further price push toward the conservative target.
