Yesterday's market news exploded: a major whale dumped $2.78 million, instantly buying 108,000 HYPE tokens, with an average price hovering around $25.63. Just from this move, the 4-hour MACD shows a golden cross upward, and the price begins to rise—does it feel like the wind is turning, and should you go all-in to follow?

Hold on. The more critical moments like this, the easier it is to fall into traps. Large capital entering the market is indeed a signal, but not necessarily a sign of an imminent surge—key is how you interpret this signal.

**How to interpret the news**

$2.78 million corresponds to 108,000 tokens, a significant order. More noteworthy is that this whale also pledged part of their holdings. What does this indicate?

First, this is a mid- to long-term strategy, not short-term speculation. The willingness to pledge and lock positions shows confidence in the value and an intention to "lie back" for a period to earn returns.

Second, the cost basis of $25.63 has become a psychological level in the market. The market will remember: this price is recognized by big players. This provides some psychological support for subsequent buying.

Conversely, large whale entry ≠ immediate price surge to lift retail traders. They might be building positions gradually or have access to certain information in advance. If you blindly follow, you might get benefits or start getting caught in a trap.

**How to interpret the technicals**

Switching to the 4-hour chart, the MACD is already above the zero line with the white line crossing above the yellow line, indicating an overall upward trend. This is a positive signal but not a cue to go all-in.

Where are the key levels? $25.63 is the cost basis of the large order just entered. If the price falls below this, it suggests the whale's confidence might waver, increasing risk. Looking upward, focus on previous resistance levels and key round numbers.

If the price can't break out, even a beautiful MACD is a false signal. So, first see if it can break above the critical resistance, then decide whether to add positions or stay on the sidelines.

**What should you do**

If you already hold positions, there's no need to rush into adding more. Let the whales help you explore the market first; confirm the trend before acting.

If you haven't entered yet, wait and observe the actual price action. The $2.78 million from the whale will gradually release liquidity, so there's no need to rush into the first move. The technicals are improving, but volume and a breakout are the real confirmation signals.

Which is more dangerous—greed or fear? Both are risky. The key is to stay clear-headed, follow the trend, and avoid emotional impulsiveness.