$HYPE ripped +25% in a single day last week. Two-thirds of that move is already gone.
Oct 29 it ran from $78.19 to $97.74. Today it's trading at $84.64, and the slow bleed since then has been a staircase of lower highs.
What the tape says right now:
- 24h: -0.4%, range $81.01 to $87.88
- 7 days: still +5.8%, but 30 days: -8.0%
- 24h volume ~$41.4M vs a 7-day daily average of ~$54.9M. The selling is quiet, not panicked
- This morning's dip to $81 got bought fast, then the bounce stalled near $87 within the last hour
Levels I'm watching: $81 is the first floor. Lose it and the pre-pump base around $78 is back in play. Reclaiming $88 would put the post-pump range back on the table.
Project angle: Hyperliquid routes most of its protocol revenue into buying back and burning HYPE, so the token is tied to exchange activity. On the other side, a small team allocation is reportedly set for distribution on Nov 6, and the US push to bring perps onshore is a double-edged story for a perp DEX: validation of the product, but also more regulated competition.
Meanwhile BTC is up 1.2% on the day and HYPE isn't following. Is this healthy cooling, or is the pump fully unwinding?
HYPE is volatile; size accordingly.
Not financial advice.
#Hyperliquid #PerpDEX #CryptoTrading
Oct 29 it ran from $78.19 to $97.74. Today it's trading at $84.64, and the slow bleed since then has been a staircase of lower highs.
What the tape says right now:
- 24h: -0.4%, range $81.01 to $87.88
- 7 days: still +5.8%, but 30 days: -8.0%
- 24h volume ~$41.4M vs a 7-day daily average of ~$54.9M. The selling is quiet, not panicked
- This morning's dip to $81 got bought fast, then the bounce stalled near $87 within the last hour
Levels I'm watching: $81 is the first floor. Lose it and the pre-pump base around $78 is back in play. Reclaiming $88 would put the post-pump range back on the table.
Project angle: Hyperliquid routes most of its protocol revenue into buying back and burning HYPE, so the token is tied to exchange activity. On the other side, a small team allocation is reportedly set for distribution on Nov 6, and the US push to bring perps onshore is a double-edged story for a perp DEX: validation of the product, but also more regulated competition.
Meanwhile BTC is up 1.2% on the day and HYPE isn't following. Is this healthy cooling, or is the pump fully unwinding?
HYPE is volatile; size accordingly.
Not financial advice.
#Hyperliquid #PerpDEX #CryptoTrading
