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Hyperliquid (HYPE) Price Drops 16% as Sellers Take Control

Author: Content Editor
Hyperliquid (HYPE) Price Drops 16% as Sellers Take Control
The price of Hyperliquid (HYPE) has dropped by nearly 16% in the last 24 hours, resulting in a market cap of $7.4 billion. Technical indicators suggest that sellers are gaining control, with the Directional Movement Index (DMI) and BBTrend weakening. The EMA lines also indicate a potential death cross, which could lead to further losses if key support at $21.1 fails. However, if buyers step in and momentum shifts, HYPE could rebound towards $24.39, with a breakout potentially pushing it to $27. The DMI chart shows a significant shift in momentum, with the ADX rising from 9 to 20.3 in just four days. This suggests that the ongoing downtrend may be gaining strength. The -DI has surpassed the +DI, indicating that sellers are currently in control. If the ADX continues to rise above 25, it would confirm a stronger downtrend and potentially lead to further losses unless buyers regain momentum. The BBTrend has also dropped significantly, indicating a weakening bullish momentum, and if it turns negative, it could confirm a shift into a downtrend. The EMA lines suggest a crucial turning point, as short-term lines are still above long-term lines but declining quickly. If they cross below, it would signal a stronger bearish trend. However, if the price holds above support and momentum shifts, a trend reversal is possible, with potential resistance at $24.39 and $27.

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