The post Hyperliquid (HYPE) at a Crossroads: $90 Breakout or $80 Breakdown? appeared on BitcoinEthereumNews.com.
Hyperliquid is currently trading at around $84. HYPE’s baseline trend remains overall bullish. The global crypto market cap is settled at $2.77 trillion, after a 1.2% loss. In line with this, Hyperliquid (HYPE) has posted a modest 1.6% drop in value over the last 24 hours. Moreover, the session’s range falls between $83.64 and $87.31. The asset could have tested key price ranges to confirm the current momentum. If the bears stay for a longer period, the price could see more downside. At the time of writing, Hyperliquid traded at around the $84.61 mark, with its market cap at $18.75 billion. Besides, the daily trading volume has reached the $1.164 billion zone, as per CoinGecko data. Zooming in on the recent price chart, there is a bearish trait within the pattern. The Hyperliquid momentum could drop to the support at $83.68 if the bears stay stronger. An extended, powerful downside correction might trigger the death cross to take place and send the price even lower, around $82. On the flip side, assuming Hyperliquid turns for a bullish reversal, the price could jump and find the nearest resistance within the $85 range. With the potential upside pressure strengthening, the golden cross could likely unfold and push the asset’s price upward, above the $86.12 level. Hyperliquid’s Technical Chart Points to a Weakening Trend The technical analysis reports that the Moving Average Convergence Divergence line is below the signal line. Both lines remain above the zero line, signalling a bullish uptrend that is experiencing short-term weakening. The baseline trend of Hyperliquid remains overall bullish. It reflects an established uptrend in the broader market structure, with the short-term momentum slowing down. When the MACD line crosses below its signal line, it creates a bearish crossover. Also, the price might be forming a flag pattern,…
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