Recently, I noticed two interesting pieces of information while monitoring the market. Combined with the 4-hour chart of a platform token HYPE, it’s definitely worth some consideration. Tonight’s market might present a classic conflicting scenario.

First, let’s talk about the news. A large trader invested 4 million USD, using ultra-high leverage to short ETH and ZEC. What signals does this move send? It indicates that experienced market participants are somewhat bearish on top-tier cryptocurrencies like Ethereum in the short term, and they are betting with real money. Such large short positions usually pour cold water on market sentiment and can easily trigger panic.

But there’s a detail—this capital flowed into a certain trading platform. Could this cause the platform token to gain additional liquidity attention? That makes things more interesting.

Now, looking at the technical side. HYPE has staged a “rebound show” on the 4-hour chart.

The price is currently stuck at a key level of 24.88. The chart is clear: resistance above at 24.89 and 26, support below at 24.88, 23.58, and 22. MACD is also signaling—although the white and yellow lines are still below the zero axis, they have started to form a golden cross upward, which is a typical rebound momentum, indicating that funds are secretly pushing.

The contradiction now appears. The macro sentiment is bearish, but HYPE’s technical trend shows a bullish stance. Two forces are opposing each other—who will win tonight?

For traders involved with this token, the suggested approach is:

**Step 1**: Don’t rush to act tonight. Keep your eyes fixed on the 24.88 level. As long as the price doesn’t break below this point, or if it does but fails to recover, avoid blindly chasing the rally; conversely, if there’s a sharp decline, don’t rush to buy the dip. Wait for clearer signals before taking action—this will greatly reduce the risk.