HYPE Battles Critical $42 Support Zone as Market Jitters Intensify

HYPE faces its ultimate test at the $42 threshold—a level that could determine its near-term fate amid swirling market uncertainty.

The Technical Crucible

That $42 support isn't just another number on the chart—it's the digital Maginot Line standing between stability and potential freefall. Markets hold their collective breath as HYPE dances dangerously close to this make-or-break level.

Meanwhile, traditional finance continues its usual hand-wringing over interest rates and inflation targets—while crypto assets like HYPE demonstrate real-time price discovery in action.

Breaking through $42 could trigger cascading liquidations, while holding firm might just be the springboard for the next leg up. The charts don't lie, but they certainly know how to keep traders guessing.

In the grand casino of modern finance, sometimes the most interesting action happens away from the traditional tables—and right now, all eyes are on whether HYPE can defend its critical $42 fortress.

• HYPE trades at $44.67 with a 0.48% rise, but volume drops 6.51% to $426.37M, signaling weak market activity.
• Support lies between $42 and $44; holding this level may push HYPE toward $50–$56, while a break risks $36 and $38.
• RSI at 43.69 and MACD below the signal line show fading bearish momentum but no confirmed recovery yet.

Hyperliquid (HYPE) is currently trading at $44.67, with an increase of 0.48% over the past 24 hours. Although its price has gone up slightly, its trading volume has decreased by 6.51% and currently stands at $426.37 million. The short-term trend has no strong gains, indicating a cautious market trend.

HYPE experienced a loss of 9.89% in the last week, which suggests that sellers remain pressured. The fall underlines the uncertainty of investors and the possible garnering of profits following the past volatility. The market participants are on the lookout for further price corrections or stabilization signs in the coming days.

Source: CoinMarketCap

HYPE Faces Decisive Support Retest Between $42–$44

Crypto analyst CryptoPulse highlighted that HYPE is testing its growing wedge support trendline around the $42 and $44 area. This level has acted as a stabilizing force in recent weeks, as the resistance and direction of the market price shape the overall market sentiment. This has emerged as a pivotal moment that separates potential recovery from further decline.

Source: X

Should buyers resist the support range of $42 and $44, hopefully, during the following sessions, HYPE could be reciprocating toward the resistance formation of $50 and $56. Nonetheless, any decisive break in powers below this area may initiate more selling waves, potentially driving the price to $36 and $38 in the area as an extension of ongoing corrective action and an indication of deeper market instability.

RSI and MACD Show Weak Momentum

The Relative Strength Index (RSI) stands at 43.69, which falls short of the neutral value of 50, indicating that there is a mild bearish mood. The MACD line value at -0.978 remains below the signal line value at -0.641, and the histogram value is -0.337. These data indicate that the selling momentum persists, but it mildly diminishes. The start of short-term recovery may be a bullish crossover.

Source: TradingView

Open Interest and Volume Drop Slightly

According to CoinGlass data, the trading volume has decreased by 1.78% to $1.55 billion. Open interest is lower, down 1.81% to $2.21, which implies less positioning in speculation. 

Source: CoinGlass

The OI-weighted rate of funding of 0.0090% shows an ambivalent view on long and short terms. In the last 24 hours, total liquidations stood at $4.61 million, longs at $3.83 million, and shorts at $777.20K.

Source: CoinGlass

The market behavior shows reluctance. Long liquidations are currently outpacing the diminishing Optimism of bullish traders. The investors are awaiting an eventual breakout or breakdown before rejoining the market. The zone between $42 and $44 is a critical one. Any downward movement below it might invite new selling, and any upward movement would regain confidence and entice new purchasers.

This support will dictate the path of HYPE as October trading progresses. Technical traders are also on the alert, watching the way RSI and MACD signals are going with the initial changing trends. The market tone is not positive, and momentum is not great in either direction.