Hyperliquid Enters Decline: Is HYPE Poised for a Surge During Alt Season?
Hyperliquid has been quite disappointing over the last few weeks. The market structure has broken down on the daily chart, and ominous signs are present in the price action. What lies ahead for
Hyperliquid
5.73%
Hyperliquid
HYPE8
Price
$39.81
5.73% /24h
Volume in 24h
$346.10M
Price 7d
hodlers – has the excitement faded? Is the price of HYPE propelled merely by speculation, like memecoin valuations? Or do substantial fundamentals sustain this initiative?
$HYPE has finally broken out from its brief downtrend phase after remaining subdued for months.
This trendline held firm for an extended period, yet once a strong level is breached, it often transforms and serves as a support.
It wouldn’t be surprising to see the price rise from this point. pic.twitter.com/z2SqXXAzDY
— BATMAN
I wasn’t aware that BATMAN has an interest in cryptocurrency and charting as well. Quite the twist – from battling villains in Gotham to grappling with enigmatic market makers and traders in the trading arena! Nonetheless, this individual pointed out a upward movement from the pessimistic. How impactful will this be? We’ll know soon enough. Check out the previous HYPE analysis here.
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Are Hyperliquid Fundamentals Still Strong and What Do the Charts Indicate?
Currently, HYPE’s annual revenue exceeds 1.2 billion dollars. This is notable, considering the crypto market cap stands at 10 billion and only a small group manages the network. Most revenue is generated through network fees, with 95-97% allocated for coin buybacks, while merely 3-5% covers operating expenses. Essentially, Hyperliquid’s annual operational costs range between $30-50 million. This is a significant contrast to a centralized exchange like Coinbase, which incurs 600 million in operating costs per quarter, or 2.4 billion annually. HYPE possesses impressive fundamentals as a business.
(Source – Tradingview, HYPEUSD)
Now, let’s embark on our technical examination with the weekly timeframe. Notable aspects include our peaks from 2024 and 2025. The high from last year is currently serving as base level. Given the limited price history, moving averages are not available on this timeframe. However, a bearish divergence is evident on the RSI, which caused the price to decline to support. This also broke the optimistic support, which is less crucial than the horizontal level from 2024.
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(Source – Tradingview, HYPEUSD)
Next, we analyze the daily chart. This is where the evident crypto market structure breakdown discussed at the beginning of this article is located. In the aftermath of the MSB, we observe a lower high and a lower low. Yesterday’s candle closed as a optimistic engulfing and reclaimed the MA200. For now, it appears that the $35 level is solid base level. The RSI has reset and may surge towards the upper range again. Is it possible that HYPE USD will test the $60 price ceiling once more?
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Low Timeframe Analysis and Final Reflections on HYPE USD
(Source – Tradingview, HYPEUSD)
Lastly, we assess the 4H timeframe. A bullish MSB was evident, which didn’t even reach the highs of September. It peaked at the second higher high accompanied by an RSI bearish divergence and a downtrend engulfing candle. Ultimately, a pessimistic MSB occurred as the price fell below all moving averages and tested MA100 before the Black Swan event of October 10th. Now, Hyperliquid is making efforts to reclaim the moving averages while entering the upper RSI half, indicating some strength. Could HYPE surge during alt season? Surpassing $40 and establishing it as price floor could send HYPE USD to $60 again. And hopefully beyond that…
Trade wisely and apply solid risk management!
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Hyperliquid Enters Downtrend: Will HYPE Run on Alt Season?
- Hyperliquid Price is currently on a downtrend according to the Daily chart.
- RSI on the 1W timeframe shows a bearish divergence, leading to a price decline.
- A bearish order block between $57-$59 must be breached before achieving a new all-time high.
- A decisive breach of the channel indeed caused HYPE USD to tumble.
The post Hyperliquid Enters Downtrend: Will HYPE Run On Alt Season? appeared first on 99Bitcoins.
