The post Hyperliquid gains 35% – Breaking down HYPE’s road to recovery appeared on BitcoinEthereumNews.com.

  Hyperliquid has a bearish market structure across multiple timeframes. The swift bounce on the 7th of March had volume behind it, but it did not promise a breakout. Hyperliquid [HYPE] fell to $9.29 on the 7th of March, after the market-wide selling, but it bounced 35% within a day of making those lows. This bounce caused the technical indicators on the lower timeframe (4-hour) to shift bullishly, but the other clues showed bearishness. The market structure on both the 1-day and 4-hour charts was bearish, but they both outlined a key resistance level for HYPE bulls to overcome in the coming days to enforce a recovery. HYPE bulls need to reclaim $12, but is that a big ask? Source: HYPE/USDT on TradingView In March, Hyperliquid bulls successfully defended the $12 level, even during its second retest. By the final week of March, a range formation and consolidation seemed likely. However, fearful market conditions shifted expectations. HYPE dropped below $12 to test $10, strengthening the bearish bias. This bearish trend had been evident since February, as the OBV showed a consistent downtrend, indicating steady selling pressure. The Awesome Oscillator also highlighted six weeks of downward momentum. At press time, a retest of $12 as resistance appeared likely, potentially leading to a move toward $8.2, the next Fibonacci extension level. Source: HYPE/USDT on TradingView The 4-hour chart showed a descending channel formation in the past two weeks. At press time, the high of the channel had forced HYPE prices to falter. This was a disappointment to the bulls, who expected a breakout based on the OBV’s movement. The OBV set a new high compared to the past ten days. The Awesome Oscillator also poked its head above the zero line to indicate bullish momentum after the bounce from the channel’s low…

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Filed under: News - @ April 9, 2025 8:28 am