Technical Analysis Hints at HYPE Breakout Soon

Hyperliquid’s native token, HYPE, has experienced a five-session consecutive decline, currently trading between $45-$46 before showing modest recovery on Wednesday. This prolonged downward trend has pushed the token to a critical support level, though technical indicators and on-chain metrics suggest the sell-off may be nearing its end as traders anticipate a potential rebound toward the $100 mark that some analysts predict is achievable.