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HYPEUSD, the cryptocurrency that has recently caught the attention of many traders, has been in a corrective phase after a strong prior uptrend. The market has been consolidating within a clearly defined corrective channel, which appears to be forming an ABC correction.
 

HYPEUSD Daily Chart From January 21
 

As the price moved lower, we carefully monitored for potential areas of support. One key level that stood out was the golden 61.8% Fibonacci retracement, which aligns with the expected final subwave "v" of the C wave. This zone, around the 20–18 price area, became an important watch point for a potential stabilization and recovery.

Traders should note that early bullish evidence only becomes valid once price breaks above the channel resistance line and the 31 level. These markers give a clearer signal that the correction may be ending and bulls could be stepping back in.
 

HYPEUSD Daily Chart From January 28
 

HYPEUSD is now bouncing nicely from the projected support after the final stages of the ABC correction were identified. Bulls appear to be back in control, with the price breaking above the channel resistance line and the 31 first bullish evidence level. This indicates potential further upside, especially if price later breaks above the 50 bullish confirmation level.

In the meantime, traders should remain aware of the possibility of a corrective pullback, even as the rebound unfolds. By carefully observing key Fibonacci levels, channel boundaries, and bullish confirmation signals, we were able to spot the support early and prepare for the current rebound.

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