Hyperliquid's Rally Stalls: What's Next for HYPE Traders?
HYPE's rally to $43 has stalled, with the daily structure remaining bearish. The $36 level is acting as a short-term demand zone, while key support levels are identified at $33.10 and $31.18.
At the time of writing, Hyperliquid (HYPE) is up 4.3% over the past 24 hours, but its gains are capped by Bitcoin's (BTC) rejection at the $116,000 resistance level. In the last 6 hours, HYPE has retraced 7.64%, falling from $43.14 to $39.85.
Despite the pullback, trading volume has surged by 30%, indicating heightened market activity. The wider altcoin market has experienced a price bounce in recent hours, and the increased HYPE trading reflects this.
According to DefiLlama data, the DEX saw consistent trading volume in October and dominated the top chains by fees.
No specific quotes available in the text.
Author's summary: HYPE's rally stalls after reaching $43.
- HYPE's daily structure remains bearish.
- Key support levels are $33.10 and $31.18.
- Trading volume has surged by 30% despite the pullback.
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