$HYPE just saw a massive long squeeze, with $11.06 million in longs wiped out in the past 12 hours. That number is 83 times the amount of short liquidations—yep, the market specifically targeted those who chased the rally with leverage.

Now the price is catching its breath around $29, but interestingly, while panic selling happened, there’s been a net capital inflow of over $2 million on both the 1-hour and 4-hour charts. Someone’s quietly accumulating.

The technicals are speaking up too: the MACD has flashed a bullish crossover at the lows, and the price is sitting just above the short-term EMA7/25 ($29.4), with only a small gap left to the long-term trendline EMA99 ($30). This spot could either turn into a rebound springboard, or be the next leg down.

Honestly, after such an oversold move, a technical bounce is common, but don’t expect a V-shaped reversal. If you want to participate, your approach should be:

- Target a rebound to $31.2 (only once it’s above here can bulls really breathe)
- Optimistically, look for the $31.5–33 range (major resistance from previous highs)
- But set your stop loss below $28; if that breaks, your “bottom pick” is actually mid-way down

Leverage longs just got wiped out, and chips have shifted from panic sellers to the big players—this transition phase often comes with a short-term rebound window. But remember, this is a bounce, not a reversal. Don’t get greedy with entries, and be ruthless with exits.

The market never lacks opportunities—what’s lacking is the capital to survive until the next one.