The Hyperliquid (HYPE) token experienced a 60% price surge after a billion-dollar airdrop distributed tokens to users. However, the surge was followed by overbought conditions, indicated by the RSI rising above 70. The momentum quickly waned, and the RSI has declined to 44.8, suggesting a neutral or slightly bearish sentiment. Despite fluctuating net flows, HYPE's price remains under pressure, with recent drops in both net flows and price levels. The drop in net flows to negative levels could indicate a loss of investor confidence or a shift in market sentiment. The market is uncertain, with a slight downward momentum. If HYPE recovers its bullish momentum, it could challenge resistance levels at $15 and potentially rise further. If the downtrend continues, HYPE's price could test its first major support level at $11.29 and potentially reach $10.44, indicating a deeper bearish trend.



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