Above $30 or Below $20: What’s Next for Hyperliquid (HYPE) Price?

This article analyzes the recent price movements and market conditions for Hyperliquid (HYPE), exploring its trading range and potential next steps as it grapples with market pressures.

Key Takeaways

As of December 17, HYPE’s price is fluctuating between $26.26 and $28.02.
Hyperliquid is currently trading at approximately $26.90, with a market cap of $9.29 billion.
A potential bearish trend could push HYPE down to $26.66, while bullish momentum might drive it up past $27.14.
The MACD and other indicators suggest a prevailing bearish trend with some room for improvement.

Above $30 or Below $20: What’s Next for Hyperliquid (HYPE) Price?

Current Price Overview

Hyperliquid (HYPE) experienced a brief price spike recently, with its lowest trading value on December 17 sitting at $26.26. The asset's peak was recorded at approximately $28.02. Should the bullish momentum strengthen, we might witness a shift in price direction. At the latest update, Hyperliquid was trading around $26.90, boasting a market capitalization of $9.29 billion. Nevertheless, the daily trading volume has decreased to $367.83 million. According to Coinglass, the market faced a 24-hour liquidation amounting to $882.74K of HYPE.

Will Hyperliquid Experience a Rally or Further Decline?

If the current downward trend continues, Hyperliquid may dip to the support level of $26.78. In a more bearish scenario, a significant "death cross" could emerge, potentially driving the price to a low of about $26.66. Conversely, if an uptrend develops, the price could rally to challenge resistance at $27.02. A strong move upward might create a "golden cross," which could send the asset surging above the $27.14 level.

HYPE chart (Source: TradingView)

The Moving Average Convergence Divergence (MACD) line and signal line for Hyperliquid are positioned below the zero line, indicating a bearish trend and suggesting that short-term momentum is weaker than the long-term outlook. Additionally, the Chaikin Money Flow (CMF) stands at -0.12, signaling selling pressure prevailing in the HYPE market, showing capital is exiting rather than entering. An upward movement past zero would need to confirm renewed buying activity.

The Bull Bear Power (BBP) is currently at -0.874, indicating a strong bearish dominance over HYPE. The larger this value, the greater the pressure from sellers. Furthermore, the daily Relative Strength Index (RSI) of 40.27 reflects weak to neutral momentum. While not in the oversold territory (below 30), it indicates potential for further declines or consolidation. A rise above 50 on the RSI would signal improved bullish strength.

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