Hyperliquid Price: Falling Wedge Forms Around Key Technical Zone

The Hyperliquid price has returned to a key technical zone on its 4-hour chart, prompting traders to weigh whether momentum can return or another wave of selling takes over.

With fresh testnet developments adding to the conversation, HYPE's price is currently reacting around a falling wedge that has been narrowing for over two weeks.

The support line of this wedge is near $52.164, with a close above $56.092 opening the door to $60.519 and then $68.992.

On the other hand, a close below $50.001 shifts focus to $45.760, a breakdown that would confirm sellers are in control.