Hyperliquid Price Bounces - How Long Will it Continue? | Credit: Hameem Sarwar
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Key Takeaways
Hyperliquid (HYPE) has fallen by 35% since its all-time high price.
The Hyperliquid price trades inside a descending wedge pattern.
Can Hyperliquid break out and regain some of its October losses?
After a strong run through most of the year, Hyperliquid (HYPE) has stumbled, falling more than 35% since hitting its all-time high in mid-September.
Still, not all signs point to weakness. Technical indicators suggest the token may be regaining strength, hinting at a short-term rebound.
With momentum stabilizing and a potential bullish setup emerging, traders are watching closely for a breakout that could help HYPE recover some of its recent losses.
Hyperliquid Price Analysis
Since April, the Hyperliquid price has increased alongside an ascending support trend line, bouncing above it multiple times (green icons).
Its most recent bounce was in September (green icon), leading to a new all-time high price of $59.45 on Sept. 18.
However, that marked the top, since the HYPE price has fallen considerably since, wiping out the gains from the past three months.
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Hyperliquid broke down from the ascending support trend line and confirmed it as resistance (red icon) before accelerating its crash further.
While the decline culminated with a low of $23.50 on Oct. 10, the price of Hyperliquid bounced, creating a massive long lower wick (green icon), validating the $32.50 horizontal area as support.
The Hyperliquid price movement is unclear. While the price has created several higher lows since the crash, it has also broken down from the ascending support trend line, creating confusion as to whether the trend is bullish or bearish.
The Relative Strength Index (RSI) has generated a bullish divergence (orange), and the Moving Average Convergence/Divergence (MACD) has made a bullish cross (black circle).
So, while the long-term Hyperliquid price prediction is unclear, the short-term chart suggests a bounce is likely.
Why is Hyperliquid Going Up?
A closer look at the Hyperliquid wave count supports the bullish, short-term technical analysis.
According to the count, HYPE has completed an A-B-C correction (red) ongoing since the all-time high.
Since the correction is contained inside a descending wedge, its breakout will confirm it is over.
While it is unclear how this fits with the long-term price movement, an initial bounce is expected, taking the price of Hyperliquid to the 0.5-0.618 Fibonacci retracement resistance at $46.40-$49.45.
Once the HYPE price gets there, the reaction will determine if the future trend is bullish or bearish.
Hyperliquid vs Aster
Aster (ASTER) was seen as a Hyperliquid competitor shortly after its debut, which coincided with multiple endorsements from Binance founder Changpeng “CZ” Zhao.
However, the price crashed shortly after its debut and has fared much worse than Hyperliquid, declining by 60% since the all-time high.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
