Hyperliquid (HYPE) Price Prediction: Traders Eye $34–$36 Zone as Bulls Fight to Hold the Line

Hyperliquid's HYPE token is navigating a critical juncture as price action consolidates between key support and resistance levels. The asset, which enjoyed a robust rally earlier this quarter, now faces mounting pressure as momentum wanes. Market participants are divided on whether this represents a healthy retracement or the precursor to a more severe downturn.

The $34–$36 support zone has emerged as a battleground, with buyers previously demonstrating conviction at these levels. However, repeated rejections from the $45–$47 resistance band have shifted sentiment. Technical indicators reveal fragile conditions, with the RSI flirting with oversold territory while price remains below the 20-EMA.

Analysts highlight $28 and $21–$22 as potential downside targets should the current support fail. These levels, corresponding to 0.618 and 0.75 Fib retracements respectively, could attract fresh bids. The short-term outlook remains cautiously bearish unless HYPE can decisively reclaim the $38–$40 range.