Hyperliquid (HYPE) Price Has One Line Left to Defend. The Last Test Ended in a Rally

Hyperliquid (HYPE) has been one of the few large-cap tokens to hold up through the crypto downturn. HYPE price is still up sharply year to date, while Bitcoin trades roughly 15% lower. That resilience is now being tested. HYPE trades near $72, about 26% below its September 23 all-time high of $97.99, and traders are asking whether the bull trend is over. Bearish Structure Takes Shape The daily chart has turned bearish . HYPE made a lower high on October 30, when a spike after Intercontinental Exchange’s (ICE) futures announcement stalled just below the record. It has now made its first lower low since the August breakout. The token also lost the 0.382 Fibonacci retracement near $75, which had held as support twice since September.

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