Hyperliquid’s $40 Resistance Battle Continues
Hyperliquid (HYPE) is facing a tough challenge at the $40 mark. Despite its bullish trend, the token can’t break through this resistance. This level has been tested several times, but sellers keep pushing it back down.
The token’s recent price action shows signs of exhaustion.Without a strong breakout and volume,it’s likely too stay in a consolidation phase. The $40 level acts as a ceiling, preventing further gains.Bulls need a significant push to take control.
Key levels to watch:
- $40 Resistance: A strong barrier that has stopped the price multiple times.
- $30 Support: A key liquidity zone that could attract buyers if tapped.
- $26 Support: A deeper zone that could trigger a reversal if reached.
Without a decisive move, Hyperliquid may oscillate between $26 and $40. A move below $30 could prompt a short-term bounce. However, a convincing move above $40 is needed for a bullish continuation.
Technically, the $30 level is untested and could act as a liquidity grab. If selling pressure continues,the $26 level becomes crucial. A volume spike here could lead to a bounce.
Until a breakout occurs, expect price to stay between $26 and $40. A sweep of $30 could prompt a short-term bounce. But a genuine breakout needs strong volume.
For more insights, check the HYPEUSDT (1D) chart.
