The post $10.32mln in HYPE exchange exits! – Could Hyperliquid target $28 next? appeared on BitcoinEthereumNews.com.

HYPE continued to absorb sustained exchange exits as a $10.32 million whale transfer aligned with buyers defending the $22–$23 zone. The move involved 465,000 HYPE leaving Galaxy Digital via OTC, and it mirrors what spot data shows across exchanges. Large holders keep pulling supply off order books instead of selling into bids.  This behavior reduces immediate liquidity and shifts control toward patient buyers. However, the price has not surged yet. It grinds, pauses, and probes for demand.  Still, repeated exits suggest conviction rather than panic. Each withdrawal removes sell-side pressure.  Meanwhile, the market tests whether buyers can defend the base without leverage spikes. This tension defines the moment as accumulation continues quietly near support. HYPE price compresses inside a falling channel Hyperliquid [HYPE] traded within a descending regression channel, with price stabilizing above the $20.67 demand zone. This level acted as the market’s primary downside buffer. Repeated sell attempts failed to accelerate the price lower since late December. Each dip toward $20.67 attracted responsive buying, signaling fading seller control. However, upside remained capped. The $28.21 level marked the first meaningful resistance, aligned with prior consolidation and the channel’s mid-region. Above that, $36.00 stood as a major structural pivot where previous breakdowns shifted control. Until price reclaimed $28 convincingly, the channel governed direction. For now, compression near support reflected absorption rather than trend failure. Source: TradingView RSI hovered between 41 and 43, reinforcing stabilization rather than capitulation. Sellers failed to push momentum into oversold territory despite months of downside pressure. That behavior suggested weakening sell-side strength near support. Moreover, RSI printed mildly higher lows during recent tests of the $22–$23 area. Buyers responded earlier, preventing momentum collapse. However, RSI remained below neutral, keeping bullish confirmation absent. This balance fits a basing phase rather than trend continuation. HYPE exchange withdrawals continue draining…

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Filed under: News - @ January 26, 2026 10:22 pm