Hyperliquid Price Reversal, Will Bears Drag HYPE Down to $35?

The post Hyperliquid Price Reversal, Will Bears Drag HYPE Down to $35? appeared first on Coinpedia Fintech News

The past week has felt like a rollercoaster for Hyperliquid, as extreme whale activity and heavy liquidations left many investors battered. Most notably, a high-profile trader opened a huge $496M Bitcoin short directly on Hyperliquid’s platform. Thereby, sparking fears that another wave of liquidations could hit the market at any moment. 

Successively, this comes fresh on the backdrop of Friday’s dramatic $19 billion liquidation event. Let’s dive into what recent movements mean, and the price levels to watch if you’re riding this volatility.​

Hyperliquid Price Analysis

Over the last 24 hours, HYPE’s price tumbled by 8% to $38.57, aggravating a 16.33% weekly loss. With market cap now at $12.98B, and trading volume up 4.22% to $837.58M, it’s clear that panic selling and algorithmic trades are dominating flows. This elevated volume usually signals capitulation and stop-loss triggers.​

Consequently, the technicals show why the sell-off accelerated. HYPE slipped below both the 7-day SMA at $41.85 and the 30-day SMA at $47.72. Momentum indicators, including a MACD histogram of -0.75 and RSI hovering near 41, reinforce the view that sellers remain in control. If downside persists, immediate support sits at $35.034, while Fibonacci analysis suggests $33.35 is the next crucial level for buyers to defend.​

That being said, if the HYPE price can reclaim and close above the $41.42 pivot, bulls might regain some confidence. Otherwise, failure to stabilize invites a retest of those lower supports.​

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