HYPE Breaks Below Key Threshold, Sparking Fears of Deeper Pullback

Hyperliquid (HYPE) has hit a roadblock in its strong September run. The price dropped to $86.07 after peaking near $98, and the daily chart shows it slipping below the short-term moving average that had guided the entire rally since August.

The green short-term average acted as a trend guardrail for weeks, catching every pullback along the way. Buyers defended it in early September when HYPE bounced from roughly $75, and again during the sharp move that took the price toward $98.

However, this dynamic has now changed. The latest daily candles closed below the line, and the price is hovering right at it, unable to reclaim it as support.