Hyperliquid recently reached an all-time high, but signs of correction are emerging in the market. This article examines key levels and the prospects for future movements.
Current Market Situation
Hyperliquid is currently trading above the $0.33 level, which had previously been broken with multiple candle closes. This level served as a breakout point before the latest all-time high. Despite signs of a correction, the bullish trend remains intact for now.
Key Support Levels
The key support level is $0.33, which, if lost, could lead to a deeper fall. A major area of interest for potential support lies at $0.26, which includes: - daily support level - 0.618 Fibonacci level - upslope of the 200-day moving average - point of control. These levels create a logical spot for bulls to attempt to restore the trend.
Future Movement Prospects
Hyperliquid sits at a crossroads. If the $0.33 level holds, upward continuation remains in play. Conversely, if this level fails, expect a deeper correction towards $0.26, which may provide an ideal spot for a higher low. Traders should wait for confirmation at either level before opening new positions.
In the current scenario, the critical levels of $0.33 and $0.26 for Hyperliquid remain crucial. Holding either of these levels will be vital for further bullish trend development.
