Loony 35% Hyperliquid Leap: Worth a Mint or a Mirage?

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  • Hyperliquid’s market chart is gloomier than a squirrel without acorns across multiple timeframes.
  • The mighty bounce on March 7th was as promising as a windy day in a balloon factory, yet no breakout followed.

Hyperliquid [HYPE] stumbled down to $9.29 on March 7th. Right after the world’s markets decided to trip over themselves, HYPE bounced a whopping 35% in under a day—enough to make a goldfish question gravity 🐠. But even as the lower timeframe turned bullish, them other clues hollered “Bear!” louder than a lost hiker in Yellowstone.

Both the 1-day and 4-hour charts looked as upbeat as a rainy picnic, yet each chart nodded at a heavy-duty resistance level just waiting to knock the bulls back down if they go a-galavantin’ for a recovery.

Bless Their Hearts: Can the HYPE crowd wrangle that elusive $12?

March saw them HYPE bulls guard $12 like a guard dog watching a ham bone. By the final week of March, you’d think we’d see a calm range forming, but skittish market conditions turned that notion on its head. HYPE soon tumbled below $12 toward $10, which made the ongoing bearish bias look plumb unstoppable. The OBV chart—bless its honest heart—had been heading downhill since February, showing steady sell-side whoopin’s.

Meanwhile, the Awesome Oscillator waved six consecutive weeks of downward gloom. At press time (with a watchful eye that might make a chicken nervous), a retest of $12 as resistance seemed likely. If them bears keep prowling, HYPE might just amble on down to $8.2, the next Fibonacci extension level that’s about as welcoming as a cactus cushion.

On the 4-hour chart, these past two weeks looked like a proper descending channel parade. Lo and behold, at press time, the top of that channel sneered at the HYPE bulls and sent prices stumbling once more. That surely made the bulls wilt like lilies in a drought, especially after seeing the OBV notch a higher high than the last ten days, and the Awesome Oscillator peek above zero to sing a cheery tune.

But since the bigger picture is about as lovable as a porcupine pillow, and $12 stands guard like a bouncer at the door, a dip toward the $11.2 support zone sure seems possible. The midpoint of that channel might serve as a cushion—if you trust a wobbly fence post to hold back a charging bull 🤠.

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2025-04-09 00:10