Hyperliquid's $43 Rally Stalls: What's Next for HYPE Traders?
HYPE's rally to $43 was encouraging, but the daily structure remained bearish. The $36 level acted as a short-term demand zone, with $33.10 and $31.18 identified as key support levels.
At the time of writing, Hyperliquid (HYPE) was up 4.3% over the past 24 hours, but its gains were capped by Bitcoin's (BTC) rejection at the $116,000 resistance level. In the last 6 hours, HYPE retraced 7.64%, falling from $43.14 to $39.85.
Despite the pullback, trading volume surged by 30%, indicating heightened market activity. The wider altcoin market experienced a price bounce, and increased HYPE trading reflected this.
According to DefiLlama data, the DEX saw consistent trading volume in October and dominated the top chains by fees.
No specific quotes available in the text.
Author's summary: HYPE's rally stalls after reaching $43.
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