HYPE Plunges to $86.3 as Whale Selling Intensifies
Hyperliquid (HYPE) has been experiencing a sharp decline from its September highs, testing the $86.3 support level amid heavy whale selling.
The token climbed to an all-time high near $98.04 on September 23 before entering a multi-session correction. On September 29, HYPE closed around $86.33 after reaching an intraday low of $85.64.
According to TradingView analyst Sean78808, the $86.3-$86.5 region is an immediate downside decision zone for HYPE. A sustained recovery above $87.2-$87.5 would put the $88.2-$89 resistance zone back into focus.
Whale transfers have added selling pressure to the market, with one wallet transferring 177,518 HYPE worth approximately $16.08 million to OKX and Bybit. However, Hyperliquid Strategies has continued accumulating the token, purchasing 494,200 HYPE worth about $45.8 million in late September.