Hyperliquid Recovery Stalls As Price Dips

HYPE/USDT Price Analysis – July 28

Following a bounce from range lows, sellers re-emerge at $46.310 level, putting the broader uptrend to the test at a critical juncture.
The Hyperliquid market is currently at a critical inflection point as its long-term uptrend faces a significant challenge. A recent recovery attempt has been halted by sellers at a key resistance level, shifting short-term momentum back in favor of the bears. The price is now testing a key daily moving average, the outcome of which will likely determine whether the larger bullish trend can continue or if a deeper correction is set to unfold.

Hyperliquid Key Levels

Support Levels: $40.840, $36.707
Resistance Levels: $46.314, $50.000

Hyperliquid Long-Term Trend: Bullish (Daily Chart)

The daily chart for HYPE/USDT shows an asset in a corrective phase within a powerful, multi-month uptrend. After reaching a peak near the $50.00 psychological level in mid-July, the price experienced a significant pullback. It found initial support near the 20-day moving average (the middle Bollinger Band) and the $40.840 horizontal support zone. This moving average is a crucial pivot point for the trend. A successful defense of this level by the bulls would keep the long-term uptrend intact and position the asset for another attempt at the highs. However, a sustained break below it would signal weakness and could lead to a deeper correction towards lower support levels.

The price action around the middle Bollinger Band shows a clear battle between buyers and sellers. The Relative Strength Index (RSI), at 52.26, is hovering just above the neutral 50 mark. This indicates that the strong bullish momentum from earlier in the month has cooled off, and the market has reached a point of equilibrium.

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

After bouncing from the $40.840 support level, the recovery rally was capped at the $46.314 resistance. This rejection has established a lower high and has put sellers back in control of the short-term trend.
Trading at $43.929 for a loss of -2.35%, the price has decisively broken below the 20-period moving average (middle Bollinger Band). This is a bearish development that confirms the recent bounce has failed and the path of least resistance has shifted back to the downside. The immediate target for sellers will be a retest of the recent lows around $40.840 key zone.

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