A well-known pseudonymous analyst on
In his October 17 post, he wrote that he “nibbled” spot HYPE below $34, filling about 20% of the position he ultimately wanted. Spot means he bought the token without any leverage, which removes the risk of forced liquidation. He said he would “load” near $28 and “play hard” below $30, a scale-in approach that buys positions at all levels rather than committing all capital at once.
He stressed that the setup sits inside a broader downtrend. By “lower highs” they mean each bounce failing below the previous peak – a classic bearish formation that is often resolved with another leg down. When he says “market structure is broken”, he is pointing to damaged support zones and thin order books after last week’s volatility, conditions that could exaggerate moves and create difficulties. The takeaway: Keep sizes small, avoid trying to get a perfect bottom, and accept that dips may overshoot.
Pentoshi also flagged a potential supply overhang from a volatile queue. On networks that allow staking, previously locked tokens are periodically unlocked; If a portion of those coins are sold instead of redeployed, short-term selling pressure may increase. He said he doesn’t know whether a quarter, a third or less will come to market, so he is leaving bids below the current price and letting the market come to him rather than chasing strength.
He said recent Ether trading deviating from his rules “burned” him a bit – even though the surge may have helped – so he is playing defense: small sizes, pre-determined bids, and minimal micromanagement of the position in the near term.
Hyperliquid is a decentralized exchange that runs on its own chain and is primarily used for perpetual futures – derivatives with no expiration. Its token, HYPE, serves as both governance and economic stake: holders can vote at stake for upgrades, rewards, and benefit from mechanisms that tie trading activity and fees to the value of the token. In short: Hyperliquid is the place; HYPE is how users participate in its development.
Just before publication time, HYPE was trading around $36.32, up 2.1% over the past 24 hours, according to CoinDesk data.