$HYPE within four days, two pin trades were pushed down to around 80.
The first was in the early hours of August 28: in a span of 4 hours, it was directly smashed from 82.7 to 79.01, with a volume of 2.31 million coins—this is the largest single-leg drop in recent times. The second on August 30 was even more ruthless: it was dumped from 83.2 all the way down to 80.6, with volume of 2.51 million. Both times, prices snapped back quickly.
This is not a coincidence. 80 is the floor that the capital on this Hyperliquid chain recognizes.
Hyperliquid runs on-chain perpetual contracts, benchmarked against CEX performance: low latency and sufficient depth. As the native token, HYPE provides governance and staking functions. Once this chain took off last year, the Perp DEX race basically became a two-horse game between it and dYdX.
Market signals:
Both times the market probed around 80 and then recovered with long lower shadows. The first low was 79.01, the second was 80.215. Buy-side demand was stubbornly absorbing at these levels. Currently, it’s hovering at 82, with limited room both above and below.
Market sentiment:
Funding rate is 0.005%, nearly zero. Neither longs nor shorts have much leverage stacked up. In the past 24 hours, trading volume was $5.55 billion—liquidity is ample, but direction is unclear. In such low-fee-rate conditions, it’s often a sign of a turning point.
Whale activity:
Look at those two volume-spiking long lower shadows: the chips around 79 and 80 were eaten by large orders. After that, it rebounded to a high of 85.35, suggesting some capital built a position at the bottom and pushed it up. But 85 couldn’t hold, and it came back down. The whales are doing swing trades between 80 and 85—they didn’t exit.
Volume-price structure:
Downward move with rising volume, and rebound with shrinking volume. On August 28, the candle that dumped 2.31 million coins was followed by a rebound with only about the 1.3 million coin level. On August 30 as well: the 2.51 million coin sell-off was followed by a rebound of only around 1 million. This indicates there is buy-side support at the bottom, but the bulls haven’t really exerted force yet. Wait for a breakout confirmation with a high-volume bullish candle above 83.5.
K-line details:
In the most recent six 4-hour candles, the real bodies are getting smaller and smaller. It fell from 81 to 80.457, then closed at 81.68; closed at 81.051; then at 81.881; then at 81.962; and finally at 82.097. Volatility has compressed to the extreme. This kind of converging formation typically resolves with direction within 24 hours.
Nini’s plan:
Current price is 82.03. I placed a long order at 80.5, with a stop-loss at 79.5 and a target at 85. If it breaks upward first through 83.5, I’ll chase the long and move my stop-loss to 82. If it breaks downward through 80, I’ll cut the loss immediately.
If you need a customized strategy, you can find Nini.
#HYPE #PerpDEX #DeFi