Cryptocurrency Hyperliquid (HYPE) is once again testing a critical level on the chart. Experts highlight that this could determine its future course.
Current Chart Situation
On the 12-hour chart, HYPE continues to face downward pressure. After a period of sideways movement, the price broke lower, forming lower highs and lows, indicative of a bearish trend.
Key Support Level Retested
HYPE's price is sitting on a marked horizontal support line, now under pressure for the second time. Each retest typically weakens support, making the outcome of this level more uncertain. A break below may lead to further losses.
Technical Decision Point for HYPE
Market structure and technical analysis suggest HYPE price is at a decision point. A bounce from the current support could give short-term relief, while a failure to hold the level may result in further decline.
The market is closely watching HYPE's movements in the coming days. The current support zone will be the indicator of a possible rebound or a continuation of the downward trend.
