What to know:
- Hyperliquid (HYPE) price dropped below the key $65 resistance, raising the risk of a decline toward the $57.22 support level.
- A daily close back above $65–$66 could restore bullish momentum and reopen the path toward previous highs.
- Investors are closely watching whether $60 support holds or if HYPE extends losses toward the analyst’s $57.22 target.
HYPE price fell below a key resistance level on July 16, increasing the risk of further losses if buyers fail to regain control. If buying momentum returns and the token reclaims this level, it could resume its move toward new highs.
At the time of writing, HYPE is trading at $62.26, down 7.93% over the last 24 hours. The token has recorded $887.20 million in daily trading volume, while its market capitalization stands at $15.80 billion, making it one of the largest decentralized finance (DeFi) assets by market value.
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HYPE Price Faces Critical Breakout Test
A crypto analyst, semifury.eth, provided a technical analysis on July 16, 2026, saying that HYPE is currently trading slightly below the significant resistance level.
In his opinion, closing daily below $65.784 would raise the probability of a move lower towards $57.22, which is considered the next important support level. Conversely, a return above $65 would enable the cryptocurrency to continue its uptrend and potentially test its earlier highs.
This level is an essential one since it will determine whether the next big movement of the token will happen. If there is a successful rebound above resistance, then buyers have reappeared; otherwise, the sellers will push on.
Technical Indicators Point to Weak Buying Strength
The existing indicators on the chart also indicate that there has been some loss of strength on the buying side.
HYPE is now trading under the mid Bollinger Band, positioned at $66.47. The top Bollinger Band is now placed at $72.43, while the bottom band is placed at $60.52. With the price currently nearer to the bottom than the top band, there is still selling pressure.
The Relative Strength Index (RSI) indicator also shows weakness on the part of buyers. In fact, the 14-day RSI is at 43.48, which is below the neutral level of 50 and the 52.75 signal line. It means that the current downward trend is continuing, but this indicator does not show an oversold condition yet. Thus, the HYPE price can fall even further.
HYPE Price Set for Its Next Major Move
It can be expected that the upcoming trading days will be of significance to HYPE.
If the coin manages to reclaim the $65-$66 area and close above it, it may become possible for technical parameters to start moving into the green zone again.
But should the sell-off persist, and the HYPE price stays below this level of resistance, then the focus of attention will shift to the $60 level of support initially, and after that to the target level suggested by the analyst at $57.22.
So far, the investors will be focused on whether the buyers will step in prior to the coin touching the lower support levels mentioned above.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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