HYPE approached 60 dollars. TON reached 3 dollars in a short time. Downward pressure is increasing in SHIB

Remarkable price movements have come to the fore in the crypto market in recent days. Hyperliquid’s native token HYPE is preparing to test its all-time high by approaching $60 in a short time. TON coin, on the other hand, managed to break the one-year downward trend with a strong rise and reach almost $ 3 in the short term. On the other hand, in Shiba Inu, selling pressure increased significantly and weakness came to the fore in technical indicators.

Strong rise in HYPE and critical psychological level

Hyperliquid token HYPE has reached the $60 mark after the acceleration that started in the past weeks. The price is trading well above the 50, 100, and 200-day moving averages. In the trend that has been continuing since March, the $48-50 resistance zone has become ineffective, especially with the last breakout candle. With the RSI rising above 75 in technical indicators, overbought conditions occurred in the market. The increase in volume revealed that the movement was strong and realistic.

In this process, it seems that the main focus of the money directed to the market has shifted to tokens linked to the speculative derivative infrastructure. HYPE experienced additional buying pressure as investors who opened short positions during the last pullback were forced to close their positions.

Mini dictionary: Hyperliquid is a blockchain project developed for decentralized derivative transactions. It enables users to execute futures and derivatives transactions without the need for any intermediary.

The $60 psychological zone and upward attempts will constitute an important resistance in the coming days. If the price strengthens above $55, a test of the upper levels is possible. However, the $48-50 band stands out as the first main support point.

Technical weakness and permanent bearish signals in SHIB

Shiba Inu (SHIB) has failed to join the bullish momentum in the overall crypto market and has been continuing its downtrend for weeks. SHIB, which technically remained below the 200-day average, was also rejected from the rising wedge formation that has formed since March. Although it briefly tried to break through the resistance line, sellers quickly put pressure on it, pushing the price back below the averages.

Shiba Inu’s last attempt to exit was met with selling pressure, while technical indicators of the price and volume distribution are producing bearish signals.

Volume data also shows that participation in the bearish movement is increasing. While buyers’ recovery attempts were insufficient, the 50 and 100-day averages created a new resistance layer. Momentum indicators such as the RSI have weakened and the price appears to be testing the immediate support level at 0.00000550.

It is stated that if it persists below this region, sales may increase further and new lows may come to the fore. In order for a positive picture to occur, the price must first reclaim the wedge formation and then rise above the 100-day average.

Strong recovery in Toncoin in the short term

Toncoin (TON) has experienced a sharp rise from $1.30 to almost $3 after a sideways movement with low participation in recent months. After this rapid rise, the price stabilized around $2 and managed to stay in the upper band of the previous horizontal range.

TON; It seems to have gained structural strength in the medium term by rising above the 50, 100 and 200-day moving averages. In the charts, the 200-day average of $ 1.75-1.80 region stands out as critical support. A significant increase in volume was also observed during the buying wave; Market players were seen actively repositioning.

While the overbought signals in the RSI are slowly returning to normal, it is reported that short-term panic buying in the market has decreased and the decision phase has begun. In the next period, if the price exceeds the resistance in the $ 2.20-2.30 region, new target levels of $ 2.70 and above may come to the fore. If there is a downward break below $1.90, a strong correction movement can be expected.