Hyperliquid's Price Rally Stalls: What's Next for HYPE Traders?
Hyperliquid's (HYPE) recent rally to $43 has stalled, with the price experiencing a pullback to $39.85 in the last 6 hours, a 7.64% retracement.
Despite this, HYPE is still up 4.3% over the past 24 hours, with trading volume surging by 30%, indicating heightened market activity.
The daily structure remains bearish, with key support levels identified at $33.10 and $31.18, and a short-term demand zone at $36.
- The $33 level is a crucial support zone for HYPE.
- Bitcoin's rejection at the $116,000 resistance level capped HYPE's gains.
- DefiLlama data shows consistent trading volume on the DEX in October.
The wider altcoin market experienced a price bounce in recent hours, with increased HYPE trading reflecting this.
Author's summary: HYPE's rally stalls after reaching $43, with key support levels at $33.10 and $31.18.