$HYPE — Selling Pressure Isn’t Over, Buyers Must Hold On
Reference price: $78.09
HYPE remains under pressure after failing to hold the $90 area. The price is now trading below the Weekly Fibonacci 0.786 level, so a recovery has yet to be confirmed.
Weekly Fibonacci
Swing low $74.45 – high $97.74 reference:
- 0.382: $88.84
- 0.500: $86.10
- 0.618: $83.35
- 0.786: $79.43
Support & Resistance
- Support: $76.25–$74.45
- Resistance 1: $79.43
- Resistance 2: $83.35
- Resistance 3: $86.10
Real Market Scenario
Bullish: HYPE needs to reclaim $79.43 and hold above it. If successful, the path to recovery toward $83.35 begins to open up.
Bearish: If $76.25 is breached, the risk of a retest of $74.45 increases.
Latest Hyperliquid News — November 6
There are two notable developments:
1. Hyperliquid Strategies filed an application with the CFTC to register as a Futures Commission Merchant (FCM) to support regulated perpetual futures markets in the US. The company also reported third-quarter revenue of $13.3 million.
2. Hyperliquid priority fees hit a record $521,000 as market volatility increased on November 5. This indicates high user activity as traders competed for transaction priority.
However, several whales were also reported to have taken profits of around $5 million as prices corrected.
Conclusion:
Hyperliquid’s fundamentals continue to develop, but technically, HYPE has yet to show a convincing recovery.
The $76.25 area is an important line of defense. Until HYPE reclaims $79.43, it’s better to wait for confirmation rather than rush into a position.
Reference price: $78.09
HYPE remains under pressure after failing to hold the $90 area. The price is now trading below the Weekly Fibonacci 0.786 level, so a recovery has yet to be confirmed.
Weekly Fibonacci
Swing low $74.45 – high $97.74 reference:
- 0.382: $88.84
- 0.500: $86.10
- 0.618: $83.35
- 0.786: $79.43
Support & Resistance
- Support: $76.25–$74.45
- Resistance 1: $79.43
- Resistance 2: $83.35
- Resistance 3: $86.10
Real Market Scenario
Bullish: HYPE needs to reclaim $79.43 and hold above it. If successful, the path to recovery toward $83.35 begins to open up.
Bearish: If $76.25 is breached, the risk of a retest of $74.45 increases.
Latest Hyperliquid News — November 6
There are two notable developments:
1. Hyperliquid Strategies filed an application with the CFTC to register as a Futures Commission Merchant (FCM) to support regulated perpetual futures markets in the US. The company also reported third-quarter revenue of $13.3 million.
2. Hyperliquid priority fees hit a record $521,000 as market volatility increased on November 5. This indicates high user activity as traders competed for transaction priority.
However, several whales were also reported to have taken profits of around $5 million as prices corrected.
Conclusion:
Hyperliquid’s fundamentals continue to develop, but technically, HYPE has yet to show a convincing recovery.
The $76.25 area is an important line of defense. Until HYPE reclaims $79.43, it’s better to wait for confirmation rather than rush into a position.