Hyperliquid technical analysis: Bearish setup persists as $61 support comes into focus

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Hyperliquid drops 7.05% today

Highlights

Hyperliquid experienced $60.3 million in long position liquidations over 24 hours, creating substantial sell-side pressure and intensifying downside momentum.
Platform revenue reached $3.91 million for the day, with a single address injecting 8.3 million USDC to temporarily buffer HYPE long liquidations.
HYPE/USD trades below key moving averages with strong selling momentum, and the expected range for the next 2 to 3 days is $61 to $68.46, with further declines much more likely than a rebound.

Record long liquidations drive intensified sell pressure amid brief inflows

Hyperliquid recorded its largest single-day long position liquidations in a year, with $60.3 million forcibly closed over 24 hours, according to Tokenpost. This surge in liquidations triggered significant sell-side pressure, intensifying downward momentum as liquidation-driven orders overwhelmed market bids. While platform revenue reached $3.91 million for the day and one address injected 8.3 million USDC to prevent further HYPE long liquidations, these inflows served only as a temporary buffer and did not reverse the prevailing trend.

Sell-side technicals confirmed as resistance holds and momentum splits

Technically, HYPE is trading below the MA-20, MA-50, and MA-200, confirming a sell-side bias across all measured timeframes. The Ichimoku Kijun at $65.01 serves as immediate resistance. Intraday momentum readings present a complex view: MACD is on a firm sell and ADX signals a bearish setup, while both RSI and CCI are neutral. Stoch RSI is in the overbought zone, highlighting the risk of a short-term corrective dip but not a full reversal. Bull/Bear Power is slightly tilted to buyers for the session, whereas the Awesome Oscillator is neutral, reflecting indecision after a volatile decline marked by a sharp intraday gap down.

Downside risks persist as range holds below critical resistance

Looking ahead, HYPE is expected to fluctuate within a $61 to $68.46 range over the next 2 to 3 sessions, defining a typical volatility band relative to current levels. The probability of a downward continuation remains high, with scope for further selling if support near $61 is breached. A move above immediate resistance at $65.01 would be required to signal a bullish scenario, but current conditions make this outcome unlikely.

Anton Kharitonov, expert at Traders Union, sees Hyperliquid under persistent pressure as technicals and forced liquidations reinforce bearish sentiment. Cumulative liquidations and price action below key moving averages highlight sustained sell-side momentum, while recent capital inflows have only managed to slow—not reverse—the decline. He believes further weakness is likely unless the price can reclaim resistance at $65.01. "Until Hyperliquid breaks above $65.01, the base case stays bearish and caution is warranted."

Previously it was reported that Hyperliquid maintained downside momentum despite robust trading activity and rising protocol revenue in the prior quarter. The current escalation in long liquidations and persistent sell-side pressure confirm and reinforce the prevailing downside risk, making the $61 support level a critical threshold to monitor for potential further losses.

Source of Data: HYPE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.