Hyperliquid HYPE Breaks Down from Rising Channel, Targeting $22
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 12 2026- Technical Pressure Intensifies: Hyperliquid HYPE has sharply declined from mid-$30s, forming a clear bear flag structure, indicating potential further downside targets at $22 and $19, reflecting strong selling pressure in the market.
- Declining Trading Volume: The cumulative volume delta indicates aggressive selling from both retail and larger traders, yet Hyperliquid leads all blockchains in fees generated over the past 24 hours, demonstrating sustained trading demand despite price weakness.
- Market Structure Shift: The loss of the $26.75 to $25.04 region marks a loss of former value, with the current price testing an ascending trendline at $24.30; a clean break here would invalidate the prior accumulation structure, exacerbating bearish sentiment.
- Fee Leadership: Despite technical weakness, Hyperliquid outperforms Ethereum, Solana, BNB Chain, and Bitcoin in fee generation, indicating strong user engagement as a high-performance perpetual exchange, with sustained fee dominance supporting long-term value narratives.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
