HyperLabs has unlocked another 433,025 HYPE tokens worth $23.46 million. These tokens have been gradually deposited on exchanges including Flowdesk and OKX, raising concerns of a potential sell-off. HYPE price has dropped to $54, down 3.3% daily, after failing to break through the $57 resistance level. Whales attempted to counter the selling pressure by withdrawing 197,360 HYPE tokens worth $10.69 million from Coinbase. The Relative Strength Index (RSI) has remained in bearish territory at 42 for three weeks, and HYPE trades below its 50-day simple moving average, suggesting a potential drop toward $51 if selling pressure continues.
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