Hyperliquid Price Faces Crucial Resistance at $63

Hyperliquid's price is attempting to recover after bouncing off the lower boundary of a falling wedge pattern, which often precedes a bullish reversal. The token has regained some momentum, but remains below a key resistance zone that could determine whether the recovery extends or stalls.

The immediate resistance lies between $62.8 and $63.2, where a previous support zone has turned into resistance. A successful reclaim of this area could open the door for a rally toward $66, followed by the psychological $70 level.

Technical indicators also point to a potential reversal, with the Relative Strength Index (RSI) forming a bullish divergence. This suggests that selling pressure is weakening and buyers may be preparing for a reversal.