Hyperliquid Cools Off: Parabolic Rally Meets Reality Check at Support Zone

After a gravity-defying surge, Hyperliquid’s price action slams into the brakes—now testing a make-or-break support level. Traders eye the charts as the market decides whether this is a healthy pullback or the start of something uglier.

Remember: in crypto, ’key support’ is just institutional speak for ’last chance to dump before the next bagholder steps up.’

At 65.5, the relative strength index is showing positive momentum despite declining from overbought levels. The moving average convergence divergence is still bullish and indicates a sustained upward bias. All major moving averages, including the 10-day, 100-day, and SMAs, are in strong buy territory.

The Stochastic RSI, on the other hand, is cooling, indicating that the rally may be losing steam. Bulls may view this as a buying opportunity if the token remains above the 20-day EMA at about $30.4. A drop below this could lead to a retest of lower levels NEAR $28. On the upside, a break above $36 might pave the way for a second push toward $40 and higher highs.