HYPE finds itself under mounting downside pressure as sellers tighten control over the short-term trend. The Hyperliquid token has struggled to reclaim its $48 to $50 resistance zone, with each rebound quickly met by renewed selling. Despite strong fundamentals and steady buybacks, momentum remains weak, suggesting that HYPE may need to sweep deeper into its $30 to $28 support range before any meaningful recovery attempt takes shape.

HYPE Bearish Structure Dominates Short-Term Outlook

Sjuul’s latest analysis outlines that Hyperliquid is following a clear lower-high and lower-low pattern, confirming the continuation of its downtrend channel. The HYPE chart shows repeated rejections from local resistance around $48 to $50, with momentum consistently weakening after each minor rebound.

HYPE continues to struggle under persistent selling pressure, with repeated rejections near $50 keeping the token locked in a clear downtrend. Source: Sjuul via X

Technically, the structure suggests that price is now locked between $32 support and $48 resistance, where failure to reclaim the latter could invite deeper retracement towards $28. This setup reinforces the idea that patience, not aggression, remains key until a proper reversal signal forms.

Key Levels in Focus as Price Eyes a Deeper Retest

HYPE’s weekly chart highlights that price may be preparing for a wick retest towards the $25 to $30 zone, aligning with prior liquidity clusters. The structure points to an ongoing corrective leg following multiple rejections from the upper resistance near $60, suggesting the asset could revisit its historical base before any sustained recovery.

Hyperliquid shows growing downside risk as price approaches the $25–$30 liquidity zone. Source: Robw00ds via X

The gray zone marked around $20 to $30 serves as a critical demand region where past accumulation began. If price sweeps this zone with a strong recovery wick, it could indicate the final phase of this correction. Until then, short-term downside risk remains prevalent, and participants are watching for a weekly close above $40 to negate immediate bearish pressure.

Buybacks Provide Underlying Support Despite Correction

Despite the ongoing market drawdown, Hyperliquid’s fundamentals remain notably strong, as Gum highlighted. The protocol continues to generate $3M–$6M in daily revenue, with an impressive 97% directed toward HYPE buybacks. This consistent capital recycling mechanism acts as a buffer against extreme downside volatility and demonstrates deep liquidity strength.

HYPE continues to post strong fundamentals, with $3M–$6M in daily revenue. Source: Gum via X

From a broader narrative perspective, when the crypto market transitions back to a risk-on environment, HYPE is likely to reemerge as a frontrunner. Its revenue-backed structure and efficient tokenomics give it a significant edge, positioning it for rapid recovery once macro conditions stabilize.

Long-Term Value Zone Between $29–$19

Crypto analyst Mocho17 identifies a strong accumulation band between $29 and $19, labeling it as a high-value buy zone. The chart structure indicates that the market is currently approaching this range, where previous rallies were initiated. The RSI has cooled off substantially, suggesting a potential setup for reaccumulation once selling pressure fades.

HYPE approaches a major long-term accumulation zone between $29 and $19, an area historically linked to powerful rebound phases. Source: Mocho17 via X

Technically, this $29 to $19 corridor aligns closely with both the weekly order block and historical volume support, making it one of the most watched regions for long-term participants. A clean reaction here, especially with confirmation via higher low, could mark the foundation for HYPE’s next impulsive leg.

Final Thoughts: Can HYPE Reclaim Its Momentum?

Hyperliquid’s short-term structure remains fragile, defined by a series of lower highs and weakening rallies, yet its on-chain and fundamental strength offers a contrasting layer of confidence. The technical charts across are converging towards a final retest between $29 to $19, an area that has historically triggered aggressive recoveries.

Hyperliquid’s current price is $39.90, down -5.54% in the last 24 hours. Source: Brave New Coin

What stands out is that while the trend remains bearish, Hyperliquid’s steady $3M–$6M daily revenues and 97% buyback ratio reflect strong protocol health even in decline, a rare dynamic in the current DeFi landscape. This ongoing buy pressure cushions the correction phase and could amplify upside velocity once sentiment turns risk-on.

If the broader market stabilizes and HYPE reclaims the $40 to $45 zone with momentum, a trend reversal towards $60+ becomes technically possible.

---

Filed under: Bitcoin - @ November 4, 2025 9:23 pm