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The Hyperliquid worth jumped 14% within the final 24 hours to commerce at $12.15 as of 12:29 a.m. EST on buying and selling quantity that skyrocketed 146% to $434 million.
Hyperliquid Value Reveals Bearish Momentum Close to Key Fibonacci Assist
The HYPE worth is experiencing a powerful bearish pattern, breaking beneath key Fibonacci ranges. The Hyperliquid worth chart exhibits a retracement from the $35.52 excessive, with worth motion now sitting across the 0.618 Fibonacci stage ($19.79).
This can be a essential help zone as a result of the golden ratio (0.618) is commonly seen as a reversal level. Nonetheless, a transparent breakdown beneath this stage will increase the chance of testing the 0.786 stage at $15.51.
Moreover, the worth of HYPE is trending beneath the 50-day Easy Shifting Common (SMA) at $23.41, confirming that sellers are in management.
The Relative Power Index (RSI) at 33.75 is indicating rising promoting strain, however being close to 30 suggests a potential bounce. Nonetheless, if the RSI dips beneath 30, it may sign additional draw back earlier than a reversal.
HYPE Value Prediction
If $19.79 (0.618 Fib) holds, a aid rally towards $22.79 (0.5 Fib) is feasible. Nonetheless, a confirmed breakdown beneath $19.79 may ship the worth towards $15.51 (0.786 Fib).
If the Hyperliquid worth reclaims the $23.41 (50-day SMA) stage, it will sign bullish momentum and a possible try at $25.80 (0.382 Fib).
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