The native token of decentralized exchange Hyperliquid, HYPE, has fallen 56% from its all-time high last September, currently trading around $26. Some analysts warn of further declines towards $20, while one predicts a risk of collapse to zero. Despite the bearish sentiment, other observers point to technical indicators suggesting a potential rebound could be ahead.
HYPE, the native token of the decentralized exchange Hyperliquid, has performed poorly lately amid a broader market downturn. The token has lost 11% this week and sits 56% below its all-time high of nearly $60 from mid-September.
Market analyst Ali Martinez stated the asset is breaking out of a triangle formation, risking a further plunge to as low as $20. Another observer, Sjuul | AltCryptoGems, envisioned a deeper pullback, noting price action had slowed down and broken down locally.
“Since we have a big cap below, I would not be surprised to see a bigger correction coming,” Sjuul | AltCryptoGems added. A more extreme view came from Nebraskangooner, who claimed HYPE was rejected at a key resistance level, forecasting an eventual collapse to zero.
Recent exchange netflow data shows inflows slightly surpassing outflows, a pattern that can precede selling activity. In contrast, some analysts see potential for a recovery despite the bearish signals.
X user HYPEconomist suggested a path involving a sweep to $27.5, a reclaim of the $30.5 zone, and a pump to $45.5. Analyst ryandcrypto argued the price would not easily fall below $20 and would likely require Bitcoin dropping well below $60,000.
TraderSZ envisioned significant volatility ahead and an eventual ascent above $36 in the coming months. The token’s Relative Strength Index (RSI) currently stands just north of the oversold territory, a technical indicator some view as a potential signal for an incoming rally.
