Hyperliquid Price Shows Macro Lower Highs; $22 Support Target Emerges

Summary:
Hyperliquid's price remains under pressure, forming macro lower highs that indicate a bearish trend. With key resistance levels unclaimed, the price is likely to move toward the $22 support zone.

Key Takeaways

Hyperliquid's price structure shows consistent lower highs, indicating a bearish trend.
Recent price action suggests a continued movement toward $22 support.
Critical technical levels remain unclaimed, reaffirming sellers' control in the market.
A drop below the $21 support could lead to further price declines.

Hyperliquid continues to experience corrective pressures as its price maintains a downward trajectory, forming another macro lower high near crucial resistance. The inability to reclaim significant volume levels increases the likelihood of a descent toward the $22 support area.

Recent trading has consistently reflected a bearish market structure, where the latest activity has reinforced downward momentum instead of indicating a recovery. Intermittent rallies have repeatedly failed to shift the trend direction, allowing sellers to remain in control. The latest rejection near high-timeframe resistance confirms that the market is still in a corrective phase, drawing attention to lower support zones.

Hyperliquid bearish market structure continues for lower

Technical Analysis of Hyperliquid's Price

HYPEUSDT (1D) Chart, Source: TradingView

The recent price movements of Hyperliquid reveal a continuation of macro bearish trends. The market has consistently formed lower highs on higher timeframes, preventing any significant change in trend structure. Each attempt at recovery has encountered selling pressure, reinforcing resistance zones and maintaining a downward bias.

The most recent rejection occurred around the $35 resistance zone, where several technical indicators converged. This level coincided with both the Volume Weighted Average Price (VWAP) and the Value Area High, creating a robust resistance zone. Sellers took control at this point, leading to a rejection that pushed Hyperliquid back toward the current trading range's equilibrium.

Following this rejection, the price shifted toward the Point of Control (POC), which signifies the area of highest trading volume within the range. The POC often serves as a critical decision point for market continuation or reversal. However, Hyperliquid failed to reclaim this level consistently, losing acceptance above it and indicating weakening demand and bearish continuation.

The loss of the POC has kicked off the current corrective phase manifesting in lower timeframes. When markets lose essential volume support, liquidity often moves to deeper demand zones where buyer interest may be stronger. For Hyperliquid, the next crucial level to watch is the $22–$21 support, which marks a significant swing low and possible capitulation area.

As long as the price remains below the POC and high-timeframe resistance, the downside pressure is expected to continue. A decline toward the $22 level is a reasonable target within the prevailing market structure. While this might seem bearish, it also represents a vital test of long-term demand—the response from this region could be the foundation for a potential recovery.

However, a failure to hold above the $21 swing level would have more significant structural implications, confirming a new macro lower low and reinforcing the bearish trend. Such a scenario would signal the continuation of the market structure that has characterized Hyperliquid's price movements in recent months.

Currently, volume dynamics do not support a bullish reversal. Buying activity is limited, and price rallies lack significant follow-through strength. Without an increase in bullish volume or a reclaim of lost resistance levels, upward attempts may remain corrective rather than impulsive.

From a broader perspective, Hyperliquid finds itself in a corrective market where sellers predominantly control the direction. Until structural resistance is reclaimed, the price is expected to gradually rotate lower as the market seeks stronger liquidity support. Notably, Hyperliquid has recently surpassed Coinbase in total notional trading volume, indicating a shift toward decentralized perpetual futures trading.

Expectations for Future Price Action

Hyperliquid is likely to continue trading lower as long as it remains below the Point of Control and the $35 resistance. The $22–$21 range is a critical area to watch, where either a reversal may take place or a breakdown could confirm the continuation of the prevailing bearish trend.