HYPE's recent trend is indeed not very promising. Looking at the chart, the MA5, MA10, and MA20 moving averages form a resistance band, almost leaving no room for any rebound. The RSI indicator is stuck around 33, a value that is essentially stagnant, showing neither strong oversold rebound signs nor bottom confirmation signals. More importantly, the MACD shows a death cross followed by a series of green bars downward, indicating that the bearish momentum is indeed accumulating.

From the price action, every attempt to rise is met with a drop, creating a frustrating downward trend—there's no support visible, and the bottom remains uncertain. The current price is 26.082. In an environment full of bearish signals on the technical side, the logic for continuing to be bearish still holds. Those with courage can consider entering short positions at market price.