Hyperliquid (HYPE) remains under sustained pressure, reflecting broader market sentiment. Over the last 24 hours, the token has dropped by almost 2.28%. Looking at the past week, the losses extend to 9.43%, showing consistent selling sessions.
At the time of writing, HYPE is trading at $48.01. Its 24-hour trading volume stands at $472.82 million, representing an 18.8% decrease. The current market capitalization is $16.05 billion, confirming its strong standing but also exposing the intensity of its recent downtrend.
One of the most significant moves in recent weeks has come from the assistance fund. It has repurchased over $700 million worth of HYPE from the open market. Backed by real and sustainable revenues, that same amount is now valued at more than $1.5 billion. With daily buybacks, the circulating supply continues to shrink, improving long-term stability.
The bigger question is whether any other project backed by centralized exchanges or venture capital firms could replicate such a commitment. Despite controlling massive resources for more than a decade, most traditional players have not followed this path.
Instead, they often prioritize short-term profits by promoting numerous tokens. Hyperliquid distinguishes itself by focusing on sustainability, community ownership, and transparency, strengthening its reputation as a project aligned with crypto ethos.
From a technical perspective, the price had merely not maintained the $60–$62 level of resistance, which caused strong selling interest. This resulted in the token sliding below the 9 EMA at $50.06 and the 20 SMA of the Bollinger Bands at $53.72, which confirmed a bearish shift in structure.
Rising volatility is also indicated by Bollinger Bands. The lower band sits at $46.28. This commonly suggests oversold levels but also favors selling. Until buyers recover $50.00, rallies would effectively be short. Stronger resistance levels are $53.70 and $61.00, while the closest support is $46.28, with risk as low as $42.50.
Despite soft tech indicators, the community holds hope. Among 65.9K votes, some 67% of voters still place their bets on HYPE’s future. That shows a lot of confidence in the project’s long-game fundamentals, even as the short-game price drifts south.
Meanwhile, 33% are bearish, a cautious warning against rising volatility. The split indicates an interesting dynamic that the majority anticipate a recovery, but a notable minority envisage a further fall. Broadly speaking, sentiment tilts well into optimism, another indication of the strong community support continuing to characterize Hyperliquid.
Also Read: Why Are Major Whales Selling Off Their HYPE? Profit or Insider Move?
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