Hyperliquid (HYPE) has been experiencing significant price fluctuations lately. After dipping to a low of $35.53 in late July, HYPE experienced a surge that nearly reached $50 by early August. However, since then, the token has shown indecision. As of today, HYPE is trading around $45.39, with traders waiting for the next decisive move that could push it up or down. 🕵️♂️
What the HYPE Chart Tells Us:
If you zoom into a 4-hour chart, you’ll see just how tight the price range has become. Every time HYPE approaches $49-$50, sellers step in and push it back down. On the flip side, whenever prices dip toward $40-$42, buyers emerge to defend that zone. This dynamic has created a tug-of-war where neither side holds clear dominance.
The key takeaway is that until one of those price levels gives way, we’re likely to see more sideways action. A breakout above $50 would be a strong signal that bulls are regaining control. However, slipping under $42 would give bears the upper hand again. 🐻
Market Indicators:
The market indicators echo the same story: volume is low at around 21.7K, suggesting traders aren’t committing significant capital right now. Open interest has decreased to about $5.23M, indicating less leverage compared to the July rally.
Positioning also remains balanced with long positions flat, net longs are around -9.50M, and shorts remain steady at roughly 7.38M.
Market Outlook: For September, HYPE appears set for continued sideways price action between $42 and $49 unless a significant event triggers a breakout.
For now, the outlook leans neutral with a slight bullish bias as long as higher lows continue to form. The real question is whether buyers have enough momentum to break through $50 or if bears are waiting to pull the market back down.
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