A widely followed pseudonymous analyst on
In his October 17 post, he wrote that he “nibbled” the spot HYPE below $34, taking about 20% of the position he ultimately wants. Spot means you purchased the token without leverage, eliminating the risk of forced liquidations. He said he would “load” around $28 and “go hard” below $30, a scaling approach that spaces out purchases across levels rather than committing all capital at once.
The situation, he stressed, is situated within a broader downward trend. By “lower highs,” he means that each bounce fails below the previous peak, a classic bearish structure that often resolves with another leg down. When he says there is a “broken market structure,” he points to damaged support zones and tight order books after last week’s volatility, conditions that can exaggerate moves and produce shocks. The bottom line: Keep the size small, avoid trying to nail down an exact bottom, and assume that sauces can overdo it.
Pentoshi also pointed out a possible oversupply due to a non-betting queue. On networks that allow staking, previously locked tokens are periodically unlocked; If a portion of those coins are sold rather than re-staked, short-term selling pressure may increase. He said he doesn’t know if a quarter, a third or less will make it to the market, so he will let bids sit below the current price and let the market come to him rather than looking for strength.
He added that a recent ether trade that deviated from his rules “burned” him a bit, even if a bounce helped, so he is playing defense: smaller sizes, pre-arranged bids, and minimal micromanagement of this position in the short term.
Hyperliquid is a decentralized exchange that runs on its own chain and is primarily used for perpetual futures (non-expiry derivatives). Its token, HYPE, serves as governance and economic participation: holders can vote on upgrades, stake for rewards, and benefit from mechanisms that link trading activity and fees to the value of the token. In short: Hyperliquid is the place; HYPE is how users share their growth.
According to CoinDesk Data, just before press time, HYPE was around $36.32, up 2.1% over the past 24 hours.
