HYPE crypto price forms risky pattern as key Hyperliquid metrics dive — TradingView News
HYPE crypto price has pulled back in the past few months, moving from a record high of $60 in September to the current $25.8, a 56% retreat. Hyperliquid’s token has also formed numerous risky patterns, pointing to more downside in the near term.
HYPE crypto price technicals points to more downside
The daily timeframe chart shows that the HYPE crypto price has dropped in the past few months. This retreat happened after it peaked at $60 in September. It retreated after forming a head-and-shoulders pattern, a common bearish reversal sign.
The token has dropped below the 61.8% Fibonacci Retracement level at $28.5, confirming the bearish outlook. It has also dropped below all moving averages, a sign that bears remain in control for now.
