Hyperliquid (HYPE) Nears $40: Will HYPE Extend Its Momentum Into November?

• Hyperliquid (HYPE) signals weak market momentum and a sideways-to-bearish phase, with a bearish MACD crossover, RSI near 45, and low ADX (17.19).
• The price is moving in a bearish trend and is currently testing a resistance level near $40.08.
• HYPE hovers near $40, but weak momentum and resistance around $41 suggest a consolidation phase before any breakout.

The Hyperliquid token (HYPE), which is the native token of one of the fastest-growing decentralized exchanges, has also seen strong momentum with approaches towards the $40 mark. The question now is whether it will sustain this upward trend and extend into November as trading volumes rise and investor interest increases.

HYPE Shows Weak Momentum Amid Bearish Pressure

The Moving Average Convergence Divergence (MACD) of Hyperliquid (HYPE) indicates a bearish crossover, suggesting that the price is likely to decrease for a while. The signal line above the MACD line indicates a bearish crossover. The blue line represents the MACD line, while the orange line indicates the signal line.

Source: TradingView

HYPE shows neutral RSI readings with RSI values of 46.25 and 45.04, indicating a neutral market condition. This hints at a consolidation phase with potential for either side’s breakout depending on upcoming market momentum.

Source: TradingView

An ADX of 17.19 for HYPE indicates a weak trend. This means that the market currently lacks strong directional momentum.

Also Read: Shocking Hyperliquid’s Pause: $20 Million POPCAT Manipulation Attempt Ends in Liquidation

Trend Insights and Crucial Support–Resistance Levels

Hyperliquid (HYPE) currently has a market capitalization of approximately $13.15 billion, with a trading volume of about $420,54 million in the last 24 hours. At press time, the altcoin is trading at $39.38, having decreased by 3.12% over the past 24 hours.

Source: CoinMarketCap

The price is moving in a bearish trend and is currently testing a resistance level near $40.08. If it breaks above this, the next target could be $42.00. On the downside, the support level is around $38.18. If the altcoin falls below this level, we might see a drop towards $34.00.

Source: TradingView

The blue line indicates the resistance level at $40.08, while the yellow line represents the support level at $38.18.

Key Resistance Level:

The key resistance for Hyperliquid (HYPE) lies near $40.80-$41.20, where selling pressure had met previous rallies. A strong close above this zone could open the path toward $43-$45 in the short term.

Although Hyperliquid (HYPE) is holding near the $40 level, a bearish MACD crossover and weak ADX at 17.19 indicate momentum is slowing. Without a breakout above $41 resistance, consolidation may continue for the token before any sustained move higher into November.

Also Read: Hyperliquid Founder Boldly Rejects Venture Capital to Protect True Decentralization