A widely followed pseudonymous analyst on
In his October 17 post, he wrote that he had “nibbled away” at the HYPE spot below $34, taking about 20% of the position he ultimately wants. Spot means he purchased the token himself without leverage, eliminating the risk of forced liquidations. He said he would “charge” closer to $28 and “go hard” below $30, a broad-based approach where spaces buy across tiers instead of committing all capital at once.
The pattern, he pointed out, is part of a broader downtrend. By “lower highs,” he means that each rebound fails below the previous peak – a classic bearish structure that often resolves with another decline. When he talks about a “broken market structure,” he points to damaged support zones and reduced order books after last week’s volatility, conditions that can exaggerate moves and produce whiplash. The bottom line: Keep the size small, avoid trying to nail down a specific bottom, and assume that the troughs can stick out.
Pentoshi also flagged a potential oversupply due to a non-staking queue. On networks that allow staking, previously locked tokens unlock periodically; if a portion of these coins are sold rather than brought back into play, short-term selling pressure may increase. He said he doesn’t know if a quarter, a third or less will hit the market, so he’s leaving the remaining bids below the current price and letting the market come to him instead of chasing strength.
He added that a recent ether trade that deviated from his rules “burned” him a bit – although a bounce helped – so he’s playing defense: smaller size, pre-set deals and minimal micromanagement of that position in the short term.
Hyperliquide is a decentralized exchange that operates on its own chain and is primarily used for perpetual futures – derivatives without expiration. Its token, HYPE, serves as both governance and economic stake: holders can vote on upgrades, stake for rewards, and benefit from mechanisms that tie trading activity and fees to the value of the token. In short: Hyperliquide is the ideal place; HYPE is how users share its growth.
According to CoinDesk Data, just before press time, HYPE was around $36.32, up 2.1% in the last 24 hours.
