Hyperliquid (HYPEUSD) Poised for a Potential Drop

Hyperliquid Price Forecast: May 22

The Hyperliquid pair is poised for a potential drop as the bears are warming up for the next bearish move. Having finished the uphill trend, the bears may trigger the bearish trend that has just begun, and the coin price could drop further. Meanwhile, the coin market is facing downsides. As a result, the coin price could continue to drop and break below the $17.21 prior support to hit the $16.00 lower support mark, triggering the selling opportunity for traders.

Key Levels:
Resistance Levels: $24.00, $25.00, $26.00
Support Levels: $18.00, $17.00, $16.00

HYPEUSD Long-term Trend: Bullish (4H chart)

The HYPEUSD pair remains bullish despite the bears’ move. The coin market is poised for a potential drop as it resumes its bearish actions in its long-term view. The price bar is above the moving average, confirming its bullishness.
The bulls’ pressure at the $26.73 supply value in the last session has contributed to its bullishness in its recent correction.

Today, actions from the bears dropped the Hyperliquid price to a low of $26.34 below the EMA-50 as the 4-hourly chart resumes. Hence, traders who buys at the current price will also make gains ahead.

However, a breakdown or potential drop to a $17.21 low value is imminent as the coin begins fresh movement towards the support levels.

Notably, the market indicator suggests that the HYPEUSD price could drop further by pointing downwards. Thus, the bearish pressure might continue to hit the $16.00 lower support level before any change in trend occurs.

HYPEUSD Medium-term Trend: Bullish (1H chart)

HYPEUSD price is on the verge of an upside retracement. An upside turnaround in the crypto market is imminent. The coin price is above the supply level, suggesting a bullish trend.
The crypto’s resistance value at $26.98 in the last session has sustained the upward strength in its recent high.

The Hyperliquid price at a $26.51 low value is undeniably bullish as the hourly session opens today.

Thus, buyers must redouble their efforts to forecast a bullish increase in the market above the $28.16 supply mark, otherwise, the potential drop might continue.

Further, the token is poised for a potential drop as indicated by the daily stochastic pointing down. Conversely, if the bulls do not step in, the Hyperliquid price might continue the slump to reach the $25.11 lower support mark in its medium-term view.

Place winning Hyperliquid trades with us. Get HYPE here