The post Hyperliquid (HYPE) Faces Resistance at $18 as Market Volatility Rises appeared on BitcoinEthereumNews.com.

HYPE token currently faces resistance at $18 and support at $15. Traders now closely watch how the market reacts. A hacker cum trader executed a $20 million trade, influencing price action and raising concerns about liquidity conditions. Hyperliquid’s native token, HYPE, currently trades at $16, reflecting the ongoing market activity driven by investor sentiment, whale movements, and broader crypto trends. The token has shown strong volatility in recent weeks, with major price swings being influenced by leveraged positions and increased liquidity. Analysts note that Hyperliquid’s decentralized perpetual exchange continues to attract substantial trading volume, creating potential impacts on HYPE price dynamics. Technical Indicators Suggest Strong Resistance and Support Levels Based on its latest price movement, HYPE is encountering key resistance around $18 while finding solid support at $15. Traders observe the Relative Strength Index (RSI) at 54, which indicates neither overbought nor oversold conditions. HYPE’s Moving Averages reflect a consolidation phase, with the 50-day Moving Average (MA) at $23.82, meaning an immediate resistance, while the 200-day MA stands at $22.21, signaling long-term support. A technical breakdown indicates that a break above the $18 resistance level could drive HYPE toward $20, while a drop below $15 may trigger a deeper correction to $13. Market momentum remains uncertain, as leveraged trading on Hyperliquid’s decentralized exchange continues to introduce sharp price fluctuations. Hacker Executes $20 Million HYPE Trade, Impacting Market Sentiment A major event impacting HYPE’s price was a $20 million trade executed by a hacker. Crypto analyst and investigator ZachXBT unmasked the activities of a “whale” turned hacker in a scam trade of Hyperliquid, gaining over $20 million in profit. ZachXBT reported that the hacker took advantage of liquidity conditions on Hyperliquid’s decentralized platform to execute the trade. This unexpected large-scale trade introduced temporary volatility, with short-term traders reacting swiftly to the…

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Filed under: News - @ March 22, 2025 4:25 pm