$HYPE – Fibonacci 61.8% as the Deciding Level: Rebound or Further Correction?
Hyperliquid (HYPE) is trading at a live price of $83.375. After coming under selling pressure, the price is testing an important Fibonacci area that could determine its next move.
Technical Analysis – Fibonacci
Based on the swing low of $74.45 and the high of $97.74:
- Fib 23.6%: $92.24
- Fib 38.2%: $88.84
- Fib 50%: $86.10
- Fib 61.8%: $83.35
- Fib 78.6%: $79.43
Support: $83.20–$83.35
Next support: $80.10–$79.43
Resistance: $84.67–$84.89
Next resistance: $86.10–$88.84
Real Market Scenario
Bullish: If HYPE can hold the $83.20–$83.35 area and reclaim $84.89, a recovery toward $86.10 and then $88.84 is possible.
Bearish: If it loses $83.20, selling pressure could push the price to test $80.10–$79.43.
News Update
Three key developments to watch:
1. The CFTC approved individual U.S. stock perpetual futures, but the decision immediately faced a legal challenge.
2. Hyperliquid recorded net outflows of around $191 million between October 28 and November 4.
3. Kraken expanded kHYPE's utility, which can now be used as collateral on Nado.
The news presents a mixed sentiment: utility expansion and institutional market opportunities are positive, but capital outflows remain a concern.
Conclusion
HYPE is testing the 61.8% Fibonacci level, an important area for maintaining its recovery structure. If this level fails to hold, the risk of further correction remains.
Focus on the price reaction at $83.20 and confirmation of a breakout above $84.89 before making a decision.
Hyperliquid (HYPE) is trading at a live price of $83.375. After coming under selling pressure, the price is testing an important Fibonacci area that could determine its next move.
Technical Analysis – Fibonacci
Based on the swing low of $74.45 and the high of $97.74:
- Fib 23.6%: $92.24
- Fib 38.2%: $88.84
- Fib 50%: $86.10
- Fib 61.8%: $83.35
- Fib 78.6%: $79.43
Support: $83.20–$83.35
Next support: $80.10–$79.43
Resistance: $84.67–$84.89
Next resistance: $86.10–$88.84
Real Market Scenario
Bullish: If HYPE can hold the $83.20–$83.35 area and reclaim $84.89, a recovery toward $86.10 and then $88.84 is possible.
Bearish: If it loses $83.20, selling pressure could push the price to test $80.10–$79.43.
News Update
Three key developments to watch:
1. The CFTC approved individual U.S. stock perpetual futures, but the decision immediately faced a legal challenge.
2. Hyperliquid recorded net outflows of around $191 million between October 28 and November 4.
3. Kraken expanded kHYPE's utility, which can now be used as collateral on Nado.
The news presents a mixed sentiment: utility expansion and institutional market opportunities are positive, but capital outflows remain a concern.
Conclusion
HYPE is testing the 61.8% Fibonacci level, an important area for maintaining its recovery structure. If this level fails to hold, the risk of further correction remains.
Focus on the price reaction at $83.20 and confirmation of a breakout above $84.89 before making a decision.
