HYPE Technical Analysis Jan 20

The negative depth of the MACD histogram in HYPE and the price positioning below EMA20 indicate that short-term momentum is under strong selling pressure; it signals the continuation of the downward trend.

Trend Status and Momentum Analysis

HYPE is trading at $23.02 as of January 20, 2026, with a %4.24 decline in the last 24 hours, keeping the daily range limited between $22.87-$24.25. Volume was realized at $335.29 million, confirming the selling pressure supporting the decline. While the overall trend direction points downward, momentum indicators also confirm this weakness. RSI at 39.04 is in the neutral zone but approaching oversold, MACD is bearish, and since the price remains below EMA20 ($25.05), short-term momentum is under sellers’ control. The Supertrend indicator also gives a bearish signal, emphasizing the $28.05 resistance. In multi-timeframe (MTF) confluence, 9 strong levels were detected in 1D, 3D, and 1W charts: 1 support/1 resistance in 1D, 2 support/1 resistance in 3D, and 2 support/3 resistance weighted in 1W. This structure shows that resistances dominate for upward movements and support tests are likely below. The rise in volume confirms the decline while indicating that momentum remains weak; buyers have not yet entered.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently at 39.04, and this value indicates that momentum is neutral but downward biased. No regular bearish divergence has been observed recently; as the price makes new lows, RSI is also testing similar low levels, supporting the healthy continuation of the downward trend. From a hidden divergence perspective, RSI forming slightly higher lows at the price’s recent bottoms is notable, but this is not yet a strong bullish signal. On the contrary, RSI remaining below the 50 level preserves seller momentum. If RSI drops below 30, an oversold condition may form, but the current 39 level carries potential for further downside. On the daily chart, RSI being stuck in the 40-50 band implies momentum could flatten, but selling pressure dominates within the overall downtrend.

Overbought/Oversold Zones

RSI above 70 is considered overbought, below 30 oversold, while HYPE’s 39.04 value is positioned in the neutral-selling zone. This level indicates that buyers have not yet made a strong entry and sellers maintain dominance. In previous days, RSI crossed below 50 to give a sell signal, and the current position leaves room for further correction. If RSI retreats to 30 with increasing volume, short-term recovery potential may rise, but momentum confluence does not support this. RSI staying in this zone emphasizes that trend strength is not weak; on the contrary, selling momentum continues.

MACD Signals and Histogram Dynamics

The MACD indicator is in a bearish position and the histogram is deepening in negative values. The signal line has not crossed above the MACD line; on the contrary, the MACD line is trading below the signal line, strengthening the sell signal. Histogram bars have widened recently, showing increasing negative momentum – this indicates that sellers are gaining speed and buyer resistance is breaking. On the daily chart, the histogram around -0.45 confirms strong downward momentum. If the histogram starts to contract, a weakening signal may come, but the current expansion supports trend continuation. A similar bearish crossover is observed on the 4-hour timeframe, drawing a sell-focused picture for short-term traders. This MACD structure supported by volume clarifies that momentum favors selling.

EMA Systems and Trend Strength

Short-Term EMAs

The price at $23.02 is trading significantly below EMA20 ($25.05), emphasizing the short-term bearish trend. There is no squeeze between EMA10 and EMA20; since the price remains below both, the ribbon is opening downward. This dynamic shows that momentum is not weak; on the contrary, the selling trend is strengthening. The short-term EMAs acting as resistance ($24-25 band) may increase selling pressure on upside tests. The ribbon’s expansion instead of contraction confirms trend strength in favor of sellers.

Medium/Long-Term EMA Supports

Medium-term EMA50 around $26.50 forms resistance, while long-term EMA200 is positioned around $28. Medium-term EMA50 around $26.50 forms resistance, while long-term EMA200 is positioned around $28. The price remaining below these levels shows the overall trend is weak. In EMA ribbon dynamics, although medium/long-term lines are upward sloping, the short-term lines pulling down is flattening the ribbon – this implies reduced trend strength but dominant downward momentum. The $22.23 level aligns with EMAs as support; a break could lead to deeper correction. Long-term EMAs are not yet providing strong support, with momentum confluence in the selling direction.

Bitcoin Correlation

Bitcoin at $91,083 with a -%2.02 change is in a sideways trend but Supertrend gives a bearish signal. BTC’s main supports are $90,920, $88,187, and $84,681; resistances are $92,454, $94,151, and $98,552. With BTC Dominance high, caution is advised for altcoins; due to HYPE’s high correlation with BTC, a downside break in BTC could push HYPE to $22 support. If BTC stays sideways, HYPE will struggle at resistances, but if BTC recovers, a $24.24 breakout potential for HYPE increases, though momentum indicators do not allow it. BTC Supertrend bearish poses risk for altcoins, potentially triggering HYPE sales. Check detailed data in HYPE Spot Analysis and HYPE Futures Analysis.

Momentum Outcome and Expectations

The synthesis of momentum indicators is bearish: RSI at 39 near oversold but no divergence, MACD histogram expanding, price below EMAs, and volume confirming sales. Short-term, $22.23 support is critical (80/100 score); a break could bring bearish target $14.60 (22 score). Above, $24.24 resistance (60/100) may be tested but momentum is weak. For bullish scenario, $32.88 (30 score) is distant, requiring RSI above 50, MACD crossover, and BTC recovery. Overall outlook is downward; support test expected with volume increase. Momentum confluence emphasizes selling pressure; traders should monitor support/resistance levels.