HYPE Price Loses Momentum Despite ETFs Finally Turn Green
HYPE has surrendered much of its latest rebound after failing to clear the resistance highlighted earlier this week.
Price is now hovering near the upper boundary of its descending channel, while HYPE spot ETFs have posted their first positive week after three consecutive periods of outflows.
The pullback anticipated earlier this week has now materialised.
In our August 5 HYPE analysis, we highlighted resistance around $57–$58, where the rebound was approaching both a horizontal price barrier and the 100-day simple moving average. Failure to clear that area left the recovery vulnerable, with support near $52 sitting below.
Momentum was weakening at the same time, with bearish RSI divergence adding to the risk of another decline.
HYPE was subsequently rejected and fell toward $53.5 on August 7, bringing price back to the upper boundary of the descending channel that has guided the broader decline from the July highs.
Buyers responded around that area, and HYPE has since recovered part of the drop. At the time of writing, the token is trading near $54.5.
HYPE Returns to the Top of Its Descending Channel
HYPE is now trading close to a technically important point. Holding above the upper channel boundary would preserve the recent breakout attempt, while a move back below it would place price inside the descending structure again.
The first major resistance sits around $57.5. Just above it, the 100-day SMA is near $58.68, forming the same resistance cluster that stopped the latest recovery.
A successful break through that area would bring the 50-day SMA near $61.8 into view. Higher up, $64.5-$65 marks another resistance zone where HYPE repeatedly struggled during July.
Support is closer. The first important area sits around $52.5–$51, which helped contain the decline in early August. Losing that zone would expose support near $47.5, followed by roughly $45.
RSI is currently near 42 and remains below the neutral 50 level. The indicator has recovered from its recent low, but there is still little evidence of strong bullish momentum.
HYPE ETFs End Three-Week Outflow Streak
The ETF picture has improved after a difficult July.
According to SoSoValue data, HYPE spot ETFs recorded $2.84 million in net inflows for the week ending August 7.
That follows three consecutive negative weeks: $7.26 million in outflows through July 17, $8.61 million through July 24 and $14.75 million through July 31.
Weak ETF demand was also flagged in JPMorgan’s recent assessment of Hyperliquid. As we covered in our analysis of JPMorgan’s concerns around Hyperliquid and HYPE ETF flows, fading fund demand had removed one source of support for the token.
The latest inflow breaks that run for now, although $2.84 million is small compared with the $30.62 million withdrawn over the previous three weeks. Further positive readings would be needed to show that ETF demand has genuinely changed direction.
What Matters Now for HYPE?
The latest bounce has prevented an immediate breakdown, but HYPE remains below both the 100-day and 50-day moving averages.
The key battle is now between the channel boundary and the $57.5–$58.7 resistance cluster. Reclaiming the latter would strengthen the recovery attempt, while slipping back into the channel would keep the $52.5-$51 support area under pressure.
ETF flows have at least stopped deteriorating for now. A stronger technical recovery would become more convincing if that improvement in fund demand continues rather than ending with a single positive week.
- Methodology: The analysis uses the HYPE/USD daily chart captured on August 8, 2026, including price structure, horizontal support and resistance levels, the 50-day and 100-day simple moving averages, the descending channel and the Relative Strength Index. ETF flow data are sourced from SoSoValue.
- Disclaimer: This article is provided for informational and educational purposes only and does not constitute financial or investment advice. Technical levels are not guarantees, and cryptocurrency prices can change rapidly.
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.
