HYPE today news: oversold technicals as bulls struggle to regain control after sharp drop

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Hyperliquid slides 9.01% today

Highlights

Hyperliquid launched HIP-3, enabling permissionless perpetual futures DEX deployments with taker fees cut by over 90% and a 500,000 HYPE stake per deployment.
The protocol began a multi-million-dollar HYPE buyback to reinforce its Assistance Fund ahead of a major token unlock scheduled for November 29.
Phantom and SafePal wallets integrated Hyperliquid and HyperEVM assets, and Swiss issuer 21Shares filed for a Hyperliquid ETF with U.S. SEC as open interest hit $8.4 billion.

Ecosystem expansion and buyback efforts amid major token unlock

Hyperliquid has launched HIP-3, enabling permissionless deployment of perpetual futures DEXs on its blockchain while cutting taker fees by over 90% and requiring a 500,000 HYPE stake per deployment, supporting ecosystem growth. The protocol also initiated a multi-million-dollar HYPE buyback to strengthen its Assistance Fund ahead of a major token unlock on November 29. Additionally, crypto wallets Phantom and SafePal have integrated Hyperliquid and HyperEVM assets, and Swiss issuer 21Shares has filed for a Hyperliquid ETF with the U.S. SEC as open interest reached $8.4 billion.

Oversold momentum and persistent selling as volatility spikes

Momentum indicators such as MACD and ADX on the daily chart point to a bearish trend with weak underlying strength. RSI, Stoch RSI, and CCI all indicate oversold conditions, yet Bull/Bear Power (BBP) confirms sellers continue to dominate intraday activity. Today's price action shows a sharp decline of 9.01%, opening lower after a modest gap and closing near the session low of $35.58 within a high-volatility range, reflecting ongoing downward pressure after the open. The Awesome Oscillator remains neutral, and all momentum and oscillator signals are aligned to the downside.

Downside bias prevails as breakout levels define risks

For the coming week, the expected trading range is adjusted to $33.50 to $38.50 to reflect about ±7% volatility around the current price of $35.62, keeping the forecast realistic for a volatile asset. There is a very low probability (less than 20%) of a sustained price increase, while further downside remains more likely based on the lack of buy signals across weekly momentum indicators. Baseline scenario sees HYPE consolidating between $33.50 and $38.50. A bullish scenario would require a breakout above $38.50 to challenge the next resistance, while a bearish break below $33.50 could trigger deeper declines toward new lows.

Anton Kharitonov, expert at Traders Union, notes that Hyperliquid (HYPE) is displaying technical weakness as it trades below all major moving averages. Despite recent ecosystem developments and integrations, momentum indicators remain firmly bearish and oversold readings have failed to attract strong buyers. He sees a base case for the price to consolidate between $33.50 and $38.50, with downside risks prevailing due to a lack of bullish confirmation. "As long as HYPE stays under $38.50, I remain cautious and see rallies as opportunities for prudent risk management."

Previously, it was noted that whale accumulation intensified as bullish sentiment countered technical hurdles. Last time we reported that seller dominance persisted intraday amid mixed momentum and oversold signals on the daily timeframe.

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.