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HYPE fell 7% to $62.15 on July 16, with the daily low of $61.8 testing the 0.382 Fibonacci retracement. The decline pushed price below its short-term rising structure and returned it to the support that separated the July recovery from a deeper retracement.

Binance is facing one of its largest retail-investor lawsuits yet. Nearly 1,700 British investors have filed a group claim against the exchange and founder Changpeng "CZ" Zhao in London's High Court, seeking at least £150 million (about $200 million) in damages.