HYPE Price Holds Key Support Before CPI – Can $90 Return?
HYPE is holding former resistance near $79 after days of pressure below its rising channel highs, with U.S. CPI set to test whether buyers can make another run at $90.
Key Takeaways
- HYPE is testing former resistance as support.
- Channel resistance remains near the $90 area.
- Higher lows keep the daily structure constructive.
- CPI could decide the next breakout attempt.
HYPE has spent days pressing against resistance
HYPE reached a new high near $89.60 earlier this month before sellers pulled the token back toward $79. As we reported when the high was set, the move brought price to the upper edge of its ascending channel. HYPE then spent several days trading near that boundary rather than breaking down sharply from it.
The pullback has brought price to the $77-$79 area, where the previous double-top resistance sits. Holding above that zone would keep the recovery structure intact. Losing it would show that the earlier breakout attempt has not yet converted the old ceiling into support.
HYPE/USD daily levels to watch
Former double-top resistance; now the immediate support test.
First recovery area before another test of the breakout level.
The channel boundary that must be cleared for continuation.
50-day and 100-day moving averages if support fails.
Buyers need to reclaim $85 after the support retest
HYPE was trading near $78.90 at the time of writing, just above the former resistance zone. The immediate question is not whether the token can jump straight to a new high but whether buyers can keep price above $77-$79 and then reclaim the $85 area, which could show that the latest pullback was corrective rather than a deeper reversal.
A break below support would materially weaken that case and return attention to the 50-day simple moving average near $68, followed by the 100-day average near $66. Those averages still slope upward, but they are lower on the chart for a reason: a move into that area would mean the market had failed its first support test after reaching channel resistance.
Higher lows and RSI support the bullish structure
The daily chart retains a sequence of higher price lows from the August base, while RSI formed lower lows across that period. That hidden bullish divergence supports the continuation case because price held its trend while momentum cooled. RSI was near 51 on the chart, far below the overbought conditions seen during the move toward $90. The signal does not guarantee another breakout, but it remains constructive as long as HYPE holds the support zone now under review.
CPI is the immediate catalyst
The U.S. Bureau of Labor Statistics is scheduled to release its August Consumer Price Index data on September 11. The market enters the report with a Reuters poll of economists pointing to a 0.4% monthly rise in headline CPI and a 0.2% increase in the core measure. The same survey puts annual headline and core inflation at 3.4% and 2.4%, respectively.
Small deviations could still move markets sharply because investors are using the report to reassess the Federal Reserve’s next step. Rich Privorotsky, Goldman Sachs’ head of European One Delta trading, said in a MarketWatch interview that a core reading around 0.25% would be closely watched for its implications for rate expectations.
For HYPE, the report is not a token-specific event, but it can shift broader risk appetite across crypto and other risk assets. A softer market reaction might help HYPE defend $77–$79 and reopen the path toward $85. A hotter-than-expected CPI print could trigger a broader risk-off reaction and test whether that reclaimed resistance has truly become support.
If HYPE holds its current zone through CPI volatility, the market could have stronger evidence that the previous double top is becoming a base rather than a failed breakout level. That would make another attempt at $89-$90 more credible; until then, the support reaction matters more than the channel target.
This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile, and technical analysis does not guarantee future price movements.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
