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Hyperliquid (HYPE) Faces Selling Pressure as Whales Double Down
Hyperliquid (HYPE) Faces Selling Pressure as Whales Double Down
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BTCCSquare news:
Hyperliquid's HYPE token is under strain as liquidations surge and sellers dominate near-term price action. The asset failed to breach the $38 resistance level, a key Exponential Moving Average barrier, reinforcing bearish sentiment. Technical charts suggest a potential head-and-shoulders pattern—a classic reversal signal that often precedes extended downtrends unless decisively broken.
Despite the weakness, on-chain data reveals whales are accumulating long positions, betting against the prevailing momentum. Immediate support levels at $32 and $28 could determine whether the correction deepens or finds footing. The Stochastic RSI hints at possible short-term relief, though the broader structure remains precarious.
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