Hyperliquid Price Faces Make-or-Break Moment Amid Bearish Trend

Hyperliquid (HYPE) is currently trading at around $84 after posting a modest 1.6% drop in value over the last 24 hours, in line with the global crypto market cap's 1.2% loss.

The baseline trend of HYPE remains overall bullish, but the asset's recent price chart shows a bearish trait within its pattern. If the bears stay stronger for a longer period, the price could see more downside and potentially drop to the support at $83.68 or even as low as $82.

On the flip side, if Hyperliquid turns for a bullish reversal, the price could jump and find resistance within the $85 range, potentially leading to an upward trend above $86.12.