Can HYPE’s Chart Pattern Signal a Rebound?

The cryptocurrency market experienced significant losses last week, with Ethereum dropping over 11% due to escalating global trade tensions. Hyperliquid (HYPE), a decentralized derivatives exchange token, suffered a dramatic decline of over 22%, primarily attributed to whales exploiting its liquidation system. 🤝 However, HYPE has seen some relief thanks to new risk management updates from the platform. 💪 A slight recovery was observed in recent hours, with HYPE bouncing back by 5% thanks to a successful defense of key support levels. 🤔