Amid economic news related to new tariffs from US President Donald Trump, the cryptocurrency market is facing instability again. Bitcoin and Ethereum are showing declines, with some altcoins, including Hyperliquid, displaying signs of technical stress.
New Wave of Turbulence in the Crypto Market
As the third quarter begins, crypto exchanges are experiencing instability due to US President Donald Trump’s announcement of new tariffs, which negatively impacted market sentiment. Bitcoin (BTC) and Ethereum (ETH) are down over 0.5%.
HYPE Structure Analysis
On the 4-hour chart, Hyperliquid (HYPE) showed steady growth within a rising wedge until early July. However, today, HYPE faced a sharp rejection near the $39.60 resistance level and broke below the wedge support, indicating a potential bearish trend. An early formation of a falling wedge could signal a possible future reversal.
Future of Hyperliquid and Key Support Levels
HYPE is testing a key support zone at $37.89, aligning with the 100-period moving average. A bounce from this level could lead to a retest of the broken wedge support. Conversely, if HYPE closes below $36.87, it would confirm further declines, with potential targets around $35.48 and $33.38.
This week will clarify whether the wedge breakdown leads to a complete trend reversal or a brief shakeout.
