This HYPE coin has really shown the bulls what a "bloodbath" means lately.

In the past 12 hours, the amount of long liquidations has skyrocketed to $11.06 million—you read that right, that's 83 times the short liquidations! This is no normal correction; it's clearly a massacre targeting leveraged longs. That said, after such an extreme washout, there's often a vacuum rebound—because all the positions that were supposed to get liquidated have already been wiped out.

Right now, the price is hovering around $29, but here's the interesting part: fund flow data shows a different story—there’s been a net inflow of over $2 million in both the 1-hour and 4-hour timeframes. Panic sellers are dumping, while the big players are scooping up—a classic “be greedy when others are fearful” move. On the technical side, the MACD is also showing a bullish crossover at low levels, and that's no coincidence.

Looking at support levels, the price is currently holding at the short-term EMA7/25 around $29.4. Above that is the long-term trendline EMA99 at about $30. This area is pretty critical—hold it and there's room for a rebound; lose it and you should get out.

If you want to play the rebound, you could try a small position at the current level. The first target is $31.2—if it holds above that, the rebound is confirmed. The next target range is $31.5 to $33, which are previous highs. Of course, you must set a strict stop-loss at $28—if it breaks that, don’t hesitate to exit.

This kind of strategy is about betting on probability, not on faith. You can participate in a technical rebound after an oversold drop, but understand that this is only a short-term opportunity—not a signal to go all-in. Manage your position size, set your stop-loss, and take profits when you can—that’s the key to success.