The post HYPE Price Drops 16% as Sellers Dominate the Market appeared on BitcoinEthereumNews.com.

Hyperliquid (HYPE) price has dropped nearly 16% in the last 24 hours, bringing its market cap down to $7.4 billion. Technical indicators suggest that sellers are gaining control, with Directional Movement Index (DMI) and BBTrend both weakening. The EMA lines are also showing signs of a potential death cross, which could accelerate losses if key support at $21.1 fails. However, if buyers step in and momentum shifts, HYPE could rebound toward $24.39, with a breakout potentially pushing it to $27. HYPE DMI Chart Shows Sellers Are In Control Hyperliquid Directional Movement Index (DMI) chart shows a significant shift in momentum, with its Average Directional Index (ADX) rising to 20.3 from 9 in just four days. The ADX measures trend strength on a scale from 0 to 100, where values below 20 indicate a weak trend, and readings above 25 suggest a stronger trend is forming. This recent increase suggests that HYPE’s ongoing downtrend may be gaining strength, but it’s still in the early stages of confirmation. HYPE DMI. Source: TradingView The +DI (Positive Directional Indicator) has dropped sharply from 30.9 to 14.1, while the -DI (Negative Directional Indicator) has surged from 13.5 to 25.2, signaling a shift in momentum toward the downside. Since -DI is now above +DI, sellers are currently in control, reinforcing HYPE bearish trend. If ADX continues rising above 25, it would confirm a stronger downtrend, meaning further losses could be ahead unless buyers regain momentum. BBTrend Is Still Positive, But Going Down HYPE BBTrend has dropped significantly from 10.1 yesterday to 3.15 today, signaling a weakening bullish momentum. BBTrend (Bollinger Band Trend) measures the strength of a price trend based on Bollinger Bands, where positive values suggest an uptrend and negative values indicate a downtrend. The higher the BBTrend value, the stronger the trend in that…

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Filed under: News - @ February 2, 2025 1:27 pm