Hyperliquid Price Plunges as Bears Target Critical Support Zone

The Hyperliquid (HYPE) price has declined to $52.06 at press time, down nearly 1%, as daily trading volume remained subdued at around 26.97K HYPE. Despite maintaining a multi-billion-dollar market capitalisation, the token has extended its recent correction after failing to hold above a key support zone near $54.

The latest decline comes after HYPE formed a triple-top pattern around the $72 resistance level, triggering a steady series of lower highs and lower lows on the daily chart. This shift in momentum from buyers to sellers has increased the probability of an extended correction if buyers fail to reclaim the level.

The repeated rejection confirms strong supply around the $72 zone, and losing this support weakens the current structure. On-Balance Volume (OBV) has continued to trend lower, indicating that selling pressure has outweighed buying activity over recent weeks.