HYPE Revisits Breakdown Zone as Analysts Anticipate a Decline to $25

Current Price Action: Hyperliquid’s HYPE token is trading at $34.81, facing bearish sentiment and retesting a critical breakdown area, with significant volatility expected as it approaches key support levels around $25.

Head-and-Shoulders Pattern: Analyst Ali Martinez identifies a head-and-shoulders pattern indicating a potential continuation to the downside, with the neckline broken and the price currently retesting this level, suggesting further declines if it fails to recover.

Market Sentiment and Indicators: The Fear & Greed Index is at 22, indicating stress among traders, while the RSI shows neutral momentum, reinforcing the bearish outlook as the token struggles to maintain momentum above key moving averages.

Decisive Moment Ahead: The market is at a critical juncture where reclaiming the neckline could neutralize the bearish setup, while failure to do so may lead to further declines, with traders closely monitoring local lows for confirmation of the downward trend.