Will Hyperliquid (HYPE) Overcome $30 Resistance or Face a Short-Term Correction?

• Hyperliquid is stabilizing near $27 after weeks of decline, with selling pressure slowing.
• Holding above the $25 support level remains important for short-term stability.

Hyperliquid is showing early signs of stability after a long period of downside pressure. The token is currently trading near $27.38, posting a modest gain of around 0.7% over the past 24 hours. During the latest session, Hyperliquid recorded an intraday low near $26.53 and climbed to a high of about $28.40 before easing back, reflecting cautious buying activity rather than aggressive momentum.

Looking at recent price action, Hyperliquid has been in a clear downtrend since late October. The price has continued to form lower highs and lower lows, reflecting weak market sentiment through November and December. However, the latest candles indicate a slowdown in selling, with the price attempting to build a base near the $25–$26 zone before pushing slightly higher.

Moving Averages Highlight Resistance Around $31–$37

From a moving average perspective, the broader trend remains weak. Hyperliquid is still trading below both the 50-day and 100-day moving averages, located around $31.7 and $37.5. These averages continue to slope downward, confirming that the larger trend has not yet shifted. Still, the distance between price and the short-term average has narrowed, which may support a period of consolidation rather than further sharp declines.

Source: TradingView)

The RSI on the daily chart is hovering in the mid-40s range. That suggests neutral momentum, selling pressure has eased, but buying strength is still limited. The indicator does not signal strong upside yet, but it also does not show oversold conditions.

In terms of key levels, the $25 area remains an important support zone, followed by a deeper support zone near $23 if weakness returns. This level has held during recent pullbacks and will be crucial for maintaining short-term stability. On the upside, immediate resistance is seen near $28.5–$29.0, followed by the $31 level, where the 50-day moving average sits. A move above these levels would be needed to improve the short-term structure.

Overall, Hyperliquid’s price action points to early signs of stabilization after a long decline. While the broader trend is still recovering, holding above key support levels could allow the token to move into a consolidation phase in the near term.