HYPE is hovering around $24 after a sustained decline from its previous peaks above $50. Looking at the chart structure, the pattern shows consecutive lower highs paired with lower lows—a textbook downtrend setup. What's notable here is the absence of meaningful bounce attempts, suggesting sellers remain in control. The selling pressure has been methodical rather than panicked, characterized by steady liquidation rather than sharp wick reversals. This controlled unwinding pattern often signals deeper weakness in the near term.