HYPE's price movement this round is indeed not looking good. Looking at the chart, the MA5, MA10, and MA20 three moving averages are arranged into a pressure band, leaving almost no rebound space. The RSI indicator is stuck around 33, that value is basically stagnant water, showing neither strong overbought rebound signals nor bottom confirmation signals. More critically, the MACD has a death cross, with green columns drawing downward one after another, the bearish momentum is indeed accumulating.

From a price performance perspective, every time it tries to move up even slightly, it gets pushed back down. This type of slow decline feels the most disheartening—no visible support can be seen, and the bottom is nowhere to be found. The current price is 26.082, in this environment where the technical picture is full of bearish signals, the logic for continued bearishness still holds. Those brave enough could consider entering short positions at market price directly.