HYPE news live: support seen at MA-200 — potential decline toward weekly lows

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Hyperliquid surges 11.79% today

Highlights

Hyperliquid (HYPE) is trading at $38.92, below both the MA-20 ($40.94) and MA-50 ($46.42), but slightly above MA-200 ($37.41), indicating short-term bearish pressure with support at the long-term average.
HYPE reached a $12.76 billion market cap and led decentralized perpetual contract trading with $317.6 billion in October volume, supported by whale accumulation despite technical weakness.
Technical signals are mixed, with bearish daily momentum and oversold RSI at 31.39, while the weekly forecast sees a likely decline toward $25.80–$28.65 if MA-200 ($37.41) is breached.

Whale accumulation intensifies as bullish sentiment counters technical hurdles

Hyperliquid reached a market capitalization of $12.76 billion, supported by a bullish engulfing candlestick pattern on the weekly chart, indicating strong underlying buyer momentum. The asset led decentralized perpetual contract trading volumes in October, with $317.6 billion transacted and contributing to a record $1 trillion total market volume for the period. Large whale accumulation has been observed despite technical challenges, reflecting active participation amid complex market dynamics.

Mixed momentum and oversold signals as seller dominance persists intraday

Momentum signals remain mixed on the daily timeframe. The MACD signals strong selling, while the ADX D1 is in strong buy territory, but with high volatility and conflicting lower timeframes. RSI at 31.39 and CCI at –76.61 suggest the market is approaching oversold, but the Stoch RSI remains neutral, highlighting no strong buy or sell sentiment. Seller dominance is confirmed by the BBP, reinforcing bearish undertones for intraday action.

Downside risk elevated as weak RSI limits upside scenario

Looking ahead, the weekly forecast points to a range of $25.80 – $28.65, as broader moving averages on the weekly chart signal support around $27.36. The probability of further price increases is very low (less than 20%), making a decline more likely, considering that only ADX and MACD on the weekly show positive signals while the RSI remains weak. In the baseline scenario, expect HYPE to trade sideways within support and resistance. In a bullish scenario, a break above the MA-50 and $46.42 could trigger upside continuation. The bearish scenario would see a breach below MA-200 at $37.41, opening the door to deeper retracement toward weekly lows.

Viktoras Karapetjanc, expert at Traders Union, sees fundamental strength in Hyperliquid (HYPE) driven by significant whale accumulation and leadership in decentralized perpetual trading volumes, despite short-term technical weakness. He believes that the asset’s proximity to key moving averages and a bullish engulfing weekly candle point to resilient market sentiment, even as daily signals remain mixed and near-term retracement risk persists. With market capital flows supporting the long-term thesis, the analyst maintains a constructive stance, favoring sideways or rebound scenarios if broader supports remain intact. "While near-term volatility persists, I see strong underlying demand and remain confident in HYPE’s resilience above the $37.41 support level," says Karapetjanc.

Previously, it was noted that sellers continue to dominate on strong volatility and selling pressure in the latest session. Market sentiment remained mixed amid debate over the transparency and effectiveness of automated deleveraging mechanisms.

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.