HYPE trades near $57 at the time of writing after slipping beneath the 0.5 Fibonacci retracement close to $57.6. That level marks the midpoint of the token’s advance from approximately $38 to $77.
The pullback has brought price directly to the 100-day simple moving average near $56.7. Together with the psychological $57 level, it forms the final visible support zone before the deeper 0.618 Fibonacci retracement near $53.
HYPE has already broken below the rising trendline that supported its advance from the June low. It also trades beneath the 50-day simple moving average near $64 and has formed a sequence of lower recovery highs since approaching $77.
The same support zone was already under pressure a day earlier, as ETF demand weakened while HYPE tested this crucial level.
The 100-day average is therefore the clearest remaining measure of medium-term support. An intraday move beneath it would carry less weight than a completed daily candle, particularly while price remains close to the 50% retracement.
A close back above the current support zone would show that buyers are still defending half of the spring rally. Acceptance below it would indicate that the correction is extending into a deeper part of the Fibonacci range.
The first sign of stabilisation would be a move back above the 0.5 retracement near $57.6.
If that level is recovered, the next resistance sits around $62, corresponding with the 0.382 retracement. This area previously acted as support and could now attract sellers looking to exit during a rebound.
Beyond $62, the falling 50-day average near $64 is the more important barrier. Until HYPE recovers it, an advance from the current level would remain a relief bounce inside a weakening structure rather than a confirmed trend reversal.
The next major resistance above the moving average is the 0.236 retracement near $67.8. Reclaiming that area would begin to challenge the sequence of lower highs established since June.
| Price Level | Technical Role |
|---|---|
| $57.6 | The midpoint of the spring rally and the first level HYPE needs to reclaim. |
| $56.7 | The 100-day moving average supporting the current price zone. |
| $62 | Former support and the first meaningful resistance on a rebound. |
| $64 | The falling 50-day average separating a relief bounce from a stronger recovery. |
| $53 | The 0.618 retracement and the next major support below the current zone. |
A completed candle beneath the 100-day average and the wider $57 shelf would weaken the remaining medium-term support structure.
The next measured level is the 0.618 Fibonacci retracement near $53. A move there would mean HYPE had surrendered more than 60% of its advance from $38 to $77.
Buyers could still attempt to form a base around that level, but a weak reaction would place the 0.786 retracement near $46.5 back into focus. Reaching that area would unwind most of the spring rally and return price much closer to its origin.
The chart is no longer best described through a triangle because the trendlines that formed it have already been broken. The cleaner structure is defined by the current $56.7–$57.6 decision zone, resistance at $62 and deeper support at $53.
The chart also does not provide a valid 200-day moving average because HYPE lacks sufficient Coinbase trading history. For now, the 50-day and 100-day averages, together with the Fibonacci grid, provide the relevant technical framework.
The post Hyperliquid Tests $57 After Losing Half Its Spring Rally appeared first on Coindoo.
