The cryptocurrency Hyperliquid, having reached an all-time high near $45, is now in a corrective phase. Further declines are anticipated until key support levels are tested.
Current Market Situation
After reaching an all-time high just under $45, Hyperliquid began a correction, aiming to establish a higher low. However, current data suggests that a bottom has not yet formed, and the ongoing correction could deepen until support levels, notably around $26.53, are tested. Until then, volatility is expected.
Key Support Levels
Attention is presently focused on the zone at $26.53, which combines strong technical indicators such as the 0.618 Fibonacci retracement and Point of Control. This level is the most significant to watch for a potential bottom formation. The current region being tested, known as Value Area High, does not represent a major support level, suggesting that any bounce here may be short-lived.
Price Movement Outlook
Hyperliquid remains in corrective mode and has yet to confirm a higher low. Until the $26.53 support zone is tested and oversold RSI conditions are met, downside risk remains in play. This level could serve as the foundation for a new bullish leg, but such signals have yet to emerge.
It is expected that Hyperliquid will continue its correction, with future price movements dependent on behavior at key support levels.
