HYPE recent short-term bearish sentiment continues to intensify. According to data, the short ratio has approached 59%, and market participants' bearish outlook has formed a fairly consistent consensus.

From liquidation data, the current situation is very unfavorable for bullish traders. In the past 24 hours, long liquidations reached $644,500, while short liquidations were only $160,800, a significant gap. This means that bullish investors are bearing losses far beyond expectations.

The technical aspect is even more dire. HYPE's price continues to be suppressed by the EMA99 long-term moving average (around $26.6), with each rebound meeting resistance near this line. This lifeline has become a ceiling that the price struggles to break through.

From a trading perspective, the current low-level rebound may just be another opportunity for shorting. The first target is to watch the $24.00 level for initial resistance; if broken, it could further test the $22.50 support.

The market is essentially a probability game; the key is to strike precisely at high-probability positions. Wait for clear technical confirmation signals rather than blindly bottom-fishing.