Summary
– Repeated macro lower highs confirm a bearish structure
– Price rejected around the $35 VWAP/value-area high
– $22–$21 demand zone is the primary downside target
Hyperliquid (HYPE) remains in a corrective downtrend after failing to break key resistance and re-establish bullish market acceptance. Recent attempts to rally have stalled at a high-timeframe confluence near $35, leaving sellers in control and increasing the odds of a move toward lower support.
Technical overview
– Trend structure: Consecutive macro lower highs point to a sustained bearish bias rather than a transient pullback.
– Resistance confluence: The $35 area aligns with the VWAP and the value-area high, creating a strong supply zone where buying interest has been rejected.
– Volume profile: The market’s Point of Control (POC) in the current range acted as an important acceptance level. HYPE failed to close back above the POC, signaling inadequate demand to sustain higher prices.
Price action details
The most recent top formed near $35, where VWAP and value-area resistance converged and produced noticeable selling pressure. That rejection pushed price back toward the POC, but HYPE couldn’t secure a close above it. Losing acceptance at that volume node initiated a corrective phase across shorter timeframes, and without reclaimed volume support, liquidity is likely to migrate toward deeper bid areas.
Targets and scenarios
– Primary downside target: $22–$21, which matches a prior swing low and represents the logical next demand zone within the current structure. A firm reversal and volume-backed recovery from this area would be the first sign of meaningful support.
– Bearish continuation: A breakdown below $21 would produce a new macro lower low and confirm an extended bearish trend, opening the path for further downside.
Volume context
Rallies so far lack expanding bullish volume and buying participation has been limited. Until we see increased buying volume or a decisive reclaim of the POC and the $35 region, upside moves are likely to remain corrective rather than impulsive.
Outlook and trade considerations
Bias stays bearish while price remains below the POC and the $35 resistance cluster. Monitor $22–$21 closely for either a volume-confirmed reversal or a failure that leads to a fresh macro low below $21. Positioning should respect these volume levels and wait for confirmation before assuming any sustained trend change.