- HYPE faces rejection near $43 as bearish momentum strengthens across daily charts.
- RSI and OBV trends confirm selling pressure, signaling possible downside toward $33.
- Buyers must push beyond $51 to flip HYPE’s bearish structure into bullish momentum.
Hyperliquid — HYPE , is at a critical juncture after strong volatility in recent trading sessions. The token climbed 4.3% in 24 hours before retreating from $43.14 to $39.85. Bitcoin’s rejection at $116,000 added pressure across the market, capping HYPE’s short-term gains. Despite the drop, trading volume surged 30%, showing that traders remain active and alert. The question now is whether HYPE will rebound or extend its decline further.
Bearish Signals Begin to Emerge
On the daily chart, HYPE has displayed signs of weakness since late September. The token broke below the swing low at $42.39, marking a bearish structure shift. A brief rally to $51 failed to restore bullish momentum, as volatility on October 10 pushed prices lower again. The $47.1 to $50.85 range has become a strong supply zone. This area has repeatedly rejected attempts by buyers to push higher.
Below that, the $32.95 to $42.46 range stands out as a key imbalance zone that may spark additional downside moves. Fibonacci retracement levels show resistance forming near $44.57, while the critical swing high remains at $51.4. Bulls must drive prices above both levels to regain control. Until that happens, sellers maintain the upper hand.
Momentum indicators also point to weakness. The Relative Strength Index (RSI) sits at 41, suggesting bearish pressure. Meanwhile, the On-Balance Volume (OBV) continues to trend lower, confirming steady selling since mid-September. Together, these indicators reinforce a cautious short-term outlook for HYPE traders.
Short-Term Structure Adds to Uncertainty
The one-hour chart shows a different picture, though still fragile. The token recently displayed a short-lived bullish shift but is now testing support again. The key level at $39.64 is under pressure. If the price closes below this mark, HYPE could slide to $36, a short-term demand area. Failure to hold that zone may expose deeper targets around $33.1 and $31.18.
Swing traders are watching these levels closely, as they represent possible reaction zones for a bounce or continuation of the decline. Despite the overall bearish bias, the increased trading activity shows that interest in HYPE remains strong. Traders are anticipating a decisive move that could set the tone for the next phase. A clear break above $44.57 might invite renewed bullish energy, while rejection could accelerate the fall.
For now, HYPE is facing selling pressure near $43 after repeated rejections at key resistance levels. Daily charts signal weakness with bearish momentum and declining volume strength. Short-term traders watch $39.64 for a possible breakdown or bounce zone. A sustained move above resistance could spark recovery, while failure could deepen the correction.
