HYPE rebounds slightly but remains near multi-month lows.
Indicators reveal weak momentum, with bearish pressure prevailing.
HYPE needs to break above $35.66, but it risks revisiting $29.15.
Hyperliquid (HYPE) is attempting to recover after plunging to its lowest level since May 22.
Although the Hyperliquid crypto has managed to bounce from that six-month low, the rebound remains fragile.
At the time of this writing, HYPE’s price is hovering around $31.51, indicating a slight 0.8% increase over the past 24 hours.
Despite the recent uptick, momentum remains weak.
Additionally, the charts indicate that bulls will face significant hurdles before a push toward the $40 level can materialize.
Hyperliquid Shows Weakness
On the 4-hour HYPE/USDT chart, the Moving Average Convergence Divergence (MACD) signals a weakening of bullish momentum.
The indicator shows the 26-day EMA (orange) crossing above the 12-day EMA (blue), forming a bearish crossover.
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As of this writing, the altcoin trades just beneath a key resistance band that has repeatedly capped upside attempts over the past several weeks.
Until bulls can reclaim this zone, the path toward $40 remains heavily obstructed, with current indicators aligning more with consolidation than continuation.
HYPE Price Forecast: Indecisive
On the daily chart, the Awesome Oscillator (AO) is displaying red histogram bars. This suggests that, despite the recent price rebound, selling pressure persists, and further declines are possible.
At press time, AO sits at -4.7 in the negative territory, reinforcing that sellers are still dominating the charge.
Supporting this outlook, the Money Flow Index (MFI) also reflects bearish momentum.
Currently trading below the neutral zone at 35.48, the indicator is trending downward toward the oversold level of 20, suggesting that HYPE’s price could soon test its nearest support zone.
Examining the Fibonacci retracement levels, HYPE’s price is currently confined between the 0.236 Fib level and the 0.382 Fib level, trading at $31.53.
A break below its current level could send the price back down to its May 22 low at $29.15.
However, if buyers continue to build bullish strength, Hyperliquid’s price could break above the 0.382 Fib level near $35.66, clearing a key resistance and potentially paving the way for a rally.
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.
