Peter Smith
⬤ HYPE grabbed attention again after flipping the script on its daily chart, bouncing aggressively right after sweeping through those October 10 liquidation lows. Price dipped briefly before snapping back with force, stacking several strong green candles that show real buying pressure coming back into play.
⬤ Looking at the chart, HYPE had been stuck in correction mode after topping out earlier in the cycle. It found a floor around the low $20s before reversing course and pushing toward $27, with the most recent session closing up over 10 percent. Volume picked up alongside the move, while the RSI climbed into the mid-to-upper range—showing improved momentum without screaming overbought just yet. The bounce came right after a textbook liquidity sweep, the kind of setup that often comes before bigger directional moves.
⬤ The recovery lines up with some solid fundamentals too—Hyperliquid just hit an all-time high in open interest thanks to ramped-up commodities trading. While the chart doesn't show open interest directly, the aggressive price reaction points to more traders jumping in. As a large-cap altcoin, HYPE's strength could signal something bigger brewing across the altcoin space.
⬤ Why this matters: sharp recoveries after liquidation sweeps can mark real shifts in market behavior. If HYPE keeps this momentum going, it could become a bellwether for how altcoins perform in this phase. That said, not every initial bounce turns into a sustained trend—confirmation is key. How price acts from here will help gauge whether risk appetite is really returning to the altcoin market.
Peter Smith
