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The Hyperlicode price tried to make a steady recovery in the last sessions, recovering part of its previous losses. HYPE has not completely lost its upward momentum, but futures market concentrations suggest that the resistance level remains strong, leaving the altcoin vulnerable to sudden fluctuations.
While spot market traders show cautious optimism, derivatives data highlights continued selling pressure.
Hyper-liquid traders should monitor this level
The settlement chart shows that HyperLiquid contracts are currently biased towards short exposure. There is a block of short liquidations worth $28.9 million above the price level of $35. This density reflects a high concentration of short sellers among futures traders.
A dominant sell exposure indicates that many traders expect the decline to continue. However, the high interest in short selling also creates the potential for squeezing. If HYPE breaks $35 decisively, forced liquidation of short positions could amplify bullish volatility and quickly change market sentiment.
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Technical indicators show a more positive outlook in the short term. The Moving Average Convergence Divergence (MACD) indicator recorded a bullish crossover on Sunday. This signal often indicates the strengthening of the upward momentum.
A MACD shift to the upside indicates that buying pressure may gradually increase. The momentum indicators reflect improving trend conditions despite the uncertainties of the futures market. If the spot market order matches the technical signals, HYPE may regain some upward momentum in the short term.
HYPE price may face resistance
The price of Hyperlicode is currently experiencing mixed signals, so its destination depends on the conditions of the broader cryptocurrency market. Geopolitical tension and macro uncertainty may limit investors’ appetite for risk. If external market sentiment declines, HYPE may have difficulty maintaining upward momentum.
In case the market avoids a strong bearish reaction, HYPE could push the price above the resistance of $34. A break towards $36 puts the price close to the liquidation range of $35. The activation of short liquidations for a value of about $28.9 million could accelerate the gains towards $38. This move can also approach the 50 and 200 day EMA, setting up a potential gold crossover formation, which will be obtained after a short qualification.
On the contrary, renewed bearish conditions undermine this forecast. Falling below the $30 support will quickly turn the sentiment towards negative. Losing this level will expose $26 as the next major support for price HYPE. This move will nullify the bullish hypothesis and disrupt the bullish trend structure that has been in place for a month and a half.
