Hyperliquid (HYPE) Price Drops for Fifth Day
Hyperliquid (HYPE) has fallen for five days in a row. On Tuesday, it traded below $46 after hitting strong resistance. Data from derivatives markets show more traders are betting on a price drop. Technical indicators also point to a possible price correction soon.
Derivatives Data Show Bearish Sentiment
Coinglass reports the long-to-short ratio for HYPE at 0.80 on Tuesday. This is the lowest in over a month. A ratio below one means more traders expect the price to fall. CryptoQuant’s spot volume map shows high market activity, which may increase selling pressure on HYPE.
Price Forecast: HYPE May Fall Below $40
HYPE price dropped nearly 7% since Friday after rejecting a key trendline. On Tuesday, it traded near $45.90. If the downtrend continues, HYPE could fall to the daily support at $39.11. The Relative Strength Index (RSI) is 45, showing growing bearish momentum. The MACD indicator also shows a bearish crossover, supporting the downward trend.
If HYPE recovers, it may rise toward the daily resistance at $51.15.
