What resistance and support does HYPE digital currency face?

The native currency digital currency “HYPE” of the decentralized trading platform “Hyperliquid” has been affected by the overall downward pressure on the digital currency market and has performed poorly recently.

As prices fall, analyst expectations vary between continued declines and a possible rebound.

The digital currency “HYPE” is currently trading close to $26, down about 11% in a week and about 56% away from its historical peak of about $60 set in mid-September.

Some technical analysts noted that a breakout of the triangle price pattern could pave the way for further declines towards the $20 level.

Others say a deeper correction will occur as momentum slows and price fails to break through major resistance levels. Some pessimistic views even predict a severe crash if the selling pressure continues.

Net flow data from the trading platform supports this cautious assertion, as inflows have exceeded outflows over the past few days, which may indicate that some investors are moving their balances from private wallets to centralized platforms, a step that often precedes sell-off operations, although this is not an inevitable indicator.

On the other hand, a group of analysts believes that the current decline may precede a new rise.

Some forecasts suggest that a test of the $27.5 level is possible, followed by a recovery to the $30.5 area and then an attempt to move up to $45.

Others have also ruled out the possibility of an easy break above the $20 level, as this would likely require Bitcoin to fall below $60,000.

Some expect significant volatility in the coming months, followed by a possible rise above $36.

The Relative Strength Index (RSI) in turn gives a signal that may be leaning towards the positive as it is approaching oversold territory, which is typically the level before a price rebound.

However, the overall trend remains dependent on broader market movements and the price’s ability to regain key resistance levels in the period ahead.

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