Crypto Market Update: HYPE, XRP, and Solana Face Key Support and Resistance

Hyperliquid (HYPE) is trading near $80 after surging over 40% in mid-August. To reach $100, HYPE would need another 24% advance. The area between $85 and $87 presents a notable barrier, with selling pressure evident as the asset faced multiple upper wicks at this level.

Momentum indicators show mixed signals. The RSI recently moved above 70 but now sits around 65, reflecting a cooling momentum. A similar pattern emerges in trading volumes, which surged when HYPE moved from $60 to $70 but have declined as the price consolidated between $80 and $85.