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HYPE price triples to $62 on ETF demand but faces resistance near $60, signaling cautious trading ahead.

Market News
23 May 2026
Blockonomi
View Source
Neutral
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HYPE surged from $20 to $62 in four months, driven by strong institutional demand following the launch of two ETFs on NYSE and NASDAQ, which attracted nearly $75 million in inflows. This rally outperformed major cryptocurrencies like Bitcoin and Ethereum in 2026. However, the price now faces a critical resistance zone near $60, raising concerns of a double top formation and suggesting short-term longs carry high risk. Analysts advise patient traders to watch for pullbacks to $35–$40 or the $20–$30 re-accumulation zone for better entry points, with long-term targets between $150 and $200 still possible if the bullish structure holds.

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