HYPE Price Faces Major Test as $500M Unlocks Begin Amid Market Jitters

The HYPE price approaches a critical juncture as monthly token unlocks commence, potentially unleashing significant selling pressure. Hyperliquid crypto will release millions in tokens starting November 29, with the full vesting schedule distributing $11.9 billion—a supply shock that could test market resilience and investor sentiment.

Currently trading at $48.74, HYPE shows tentative recovery from an intraday low of $46.5, holding above the 50-day EMA. The asset recently broke out from an ascending triangle pattern to reach a record $59.29 before profit-taking emerged. Traders now watch for signs of whether bulls can overcome unlock pressures and push toward $80 by year-end.

The looming $500 million monthly unlocks represent a Sword of Damocles for HYPE's price trajectory. Market participants must gauge whether organic demand can absorb this incoming supply wave while navigating broader cryptocurrency market volatility.