Hyperliquid Price Forecast: HYPE Faces Downward Pressure Amid Token Unlock Concerns

Hyperliquid (HYPE) has retreated sharply from its all-time high of $59.43, currently trading at $49.29 as market participants brace for significant token unlocks. The decentralized exchange token shows technical vulnerability, with bears targeting the $40.00 support level.

A looming vesting schedule threatens medium-term price action. Beginning November 29, 237.8 million HYPE will enter circulation linearly over 24 months—representing nearly $500 million in monthly selling pressure at current prices. The first unlock will release 216,580 tokens (0.02% of max supply).

Despite the bearish outlook, the 50-day EMA suggests potential short-term stabilization. With 334 million tokens currently circulating against a 1 billion max supply, the market faces a critical liquidity test as unlock events commence.