As of this writing, HYPE’s price is confined in an ascending channel. Despite this, the altcoin is yet to rise above the channel’s upper trendline.
At the same time, several indicators have formed a bearish divergence. For instance, the Chaikin Money Flow (CMF) has dropped below the zero signal line.
This suggests that buying volume has decreased, and sellers are beginning to regain control. Should this remain the same, Hyperliquid’s price might struggle to breach the $27.76 resistance, despite holding the $24.93 support.
Interestingly, the green line of the Supertrend is below HYPE. This position indicates strong support for the altcoin to trade higher.
Due to the disparity between the Supertrend and CMF, it appears that the Hyperliquid price might continue consolidating in the short term.
However, the market dynamic could shift in January, largely due to Hyperliquid’s upcoming token unlock.
Unlock Could Pressure Price
Notably, this event may inject fresh supply at a time when liquidity typically thins and volatility rises.
According to Tokenomist, Hyperliquid is scheduled to unlock around $322 million worth of tokens on Jan. 6. This release could increase near-term sell-side pressure depending on how recipients choose to position.
More broadly, unlocks tend to act as a real stress test for tokens trading at high fully diluted valuations (FDVs). This is because they narrow the gap between implied value and circulating reality, forcing the market to absorb additional supply.
Should demand for the altcoin fail to absorb supply by that period, Hyperliquid’s price could slide toward $20.
HYPE Price Analysis: Bullish Short-Term
On the daily chart, Hyperliquid’s momentum remains mixed. The Awesome Oscillator (AO) is still in negative territory, indicating that broader bearish momentum has not fully unwound.
However, the appearance of green histogram bars suggests downside pressure may be weakening.
Price action reflects that tension. HYPE is currently testing the upper boundary of a descending channel.
Supporting the potential upside, the Money Flow Index (MFI) has been trending higher on the same timeframe, signaling improving buying pressure beneath the surface.
If these conditions persist and price breaks above the channel, Hyperliquid’s price could attempt a move toward $29.54.
In a stronger bulllish scenario where momentum and volume accelerate, the crypto could extend gains toward $35.25.
If the upcoming token unlock begins to weigh on sentiment and supply dynamics, the breakout attempt could fail, opening the door for a retracement toward $20.31.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
