HYPE Under Pressure, SAND With Strong Surge: Technical Analysis of Two Volatile Altcoins

HYPE Corrects 65 Percent From All-Time High

The HYPE price is in a highly relevant phase both technically and in terms of volume. After losing support at $23.77, a dynamic downward movement has set in, pushing the price down to the 0.786 Fibonacci retracement level – corresponding to a correction of approximately 65 percent from the all-time high of nearly $60 ^[1].

The current position of the price is particularly critical: it coincides with a low-volume zone in the volume profile. Below the previously intensely traded price ranges, the traded volume decreases significantly ^[1]. Such low volume areas can either favor quick technical counter-movements or trigger accelerated sell-offs if buyers stay away ^[1].

Technical Indicators Show First Stabilization Signals

Despite the recent weakness, there are initial signs of possible stabilization. While the price has formed lower lows, the RSI (Relative Strength Index) shows a slight bullish divergence and is gaining strength ^[1]. This signal indicates declining selling pressure, although a confirmed trend reversal cannot yet be derived from this ^[1].

On the 4-hour chart, the price is currently attempting to form a bottom structure above the local lows. In the short term, the resistance area around $23.30 comes into focus, where not only a prominent horizontal resistance but also the 50 EMA runs ^[1]. Should the price turn downward again here, this would be interpreted as a short confirmation and would further confirm the overarching downtrend ^[1].

In the event of a successful recovery, the zone between $23.77 and $24.50 initially takes center stage. Only a sustained advance above this area as well as a recapture of the 50 EMA would noticeably brighten the overall technical picture ^[1].

SAND Records Strongest Gain in Top 100

A completely different picture emerges with the SAND token of the blockchain gaming project The Sandbox. The token is experiencing the largest gain among the 100 most valuable cryptocurrencies in the last 24 hours with an increase of over 14 percent ^[2]. It is the first price recovery since August, when the development team laid off half of its workforce ^[2].

In the last 12 to 24 hours, the SAND price moved between $0.1734 (high) and $0.1441 (low). The current closing price is $0.1691, significantly above the previous day's close of $0.1443 ^[2]. The market capitalization is approximately $450 million ^[2].

Overbought Momentum for SAND

The price is trading well above the EMA-20 ($0.1487) and shows a sequence of higher highs and higher lows ^[2]. As long as the price remains above the EMA-20, the short-term market situation remains bullish ^[2].

However, the RSI (14) stands at 74.3 and signals overbought momentum ^[2]. The histogram shows increasing positive acceleration, confirming short-term trend strength ^[2]. The Bollinger Band width is around $0.0157 and indicates elevated short-term volatility ^[2].

A breakout above $0.1734 with volume confirmation could continue the uptrend to $0.2000 to $0.2500. If SAND falls below $0.1487, however, and the RSI loses below 60, a correction toward $0.1353 to $0.1100 threatens ^[2].