Usman Salis
⬤ Hyperliquid got hit hard after running into a brick wall at a major technical level on the 8-hour timeframe. HYPE started dumping aggressively following the rejection, with the entire move playing out rapidly over just a few hours.
⬤ The chart reveals that price tried to retest a historical support-resistance flip zone near $25.4. This level had held as support earlier before breaking down last week, making it prime resistance territory on the first retest attempt. At the same time, HYPE also retested a previously broken 8-hour ascending trendline from below. That created a textbook bearish retest setup backed by two strong technical confluences—a combination that rarely ends well for bulls.
⬤ After getting rejected, HYPE plunged sharply lower, dropping roughly 5% to 6% in a short window. The chart shows a decline of about 5.83%, pushing price down toward the $23.9 zone. This was the first retest of both the former support-resistance level and the broken trendline since the initial breakdown—a scenario that typically triggers the most aggressive selling.
⬤ This move matters because it confirms how powerful first retests can be after structural breaks. HYPE's failure to reclaim these key levels signals weakening upside momentum and shows sellers are firmly defending former support zones. With price reacting this strongly to established technical boundaries, short-term sentiment remains fragile and volatility is likely to stay elevated around these levels.
Usman Salis
