Hyperliquid Rally Stalls at $46.31 Resistance, Correction Begins

HYPE/USDT Price Analysis – August 11

Hyperliquid market’s recent strong recovery has encountered a significant hurdle as the price was firmly rejected from a key resistance level. While the broader trend on the daily chart remains bullish, this rejection has halted the advance and initiated a short-term corrective phase. Sellers have re-emerged, shifting the immediate momentum to the downside and putting the strength of the recent rally to the test.

Hyperliquid Key Levels

Support Levels: $40.840, $36.700
Resistance Levels: $46.314, $50.000

Hyperliquid Long-Term Trend: Bearish (Daily Chart)

HYPE/USDT shows a market that is still in a long-term uptrend, but is currently facing significant overhead resistance. After a correction in late July, the price found solid support at the $36.707 level and has since staged a powerful rally. This move carried the price back up to the crucial resistance zone at $46.314, where it has been met with strong selling pressure.

Currently trading at $44.284, the asset is now in a pullback after failing to break through this resistance. The underlying trend remains bullish, supported by the higher low formed in early August. However, the conviction of the bulls is now being challenged.

A successful defense of the $40.840 support would be a strong sign that the uptrend is healthy and ready for another attempt higher. The Momentum indicator is well into positive territory with a high reading of 6.615, confirming that the underlying trend is still driven by strong buying pressure. The Stochastic oscillator, however, is at 74.39 / 74.80, approaching the overbought region. This suggests that while the trend is strong, the upward momentum may be getting exhausted as it runs into significant resistance.

Hyperliquid Short-Term Trend: Bearish (4-Hour Chart)

Sellers have taken control of the immediate price action. The failure to break resistance has led to profit-taking and fresh short positions, creating a series of lower highs and lower lows. The path of least resistance has shifted to the downside in the short term, with sellers likely to target the $40.840 support level. More decisively, the Stochastic oscillator has executed a sharp bearish crossover from the overbought region. This is a clear sell signal that confirms the exhaustion of the rally and the start of a corrective move.

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