Hyperliquid Tests Critical Support Zone Amid Spring Rally Correction
Hyperliquid (HYPE) is currently trading at around $57 after experiencing a significant correction in its spring rally. This level marks an important decision zone for the token, with potential implications for its broader recovery structure.
The price of HYPE has slipped below the 50% retracement of its spring advance and is now testing its 100-day moving average near $56.7. If it recovers to $57.6, this could support a rebound toward $62, which marks the 0.382 retracement.
However, if HYPE fails to recover this level and breaks below the current support zone, it would expose the next major support at $53, which is the 0.618 Fibonacci retracement. A move to this level would indicate that the correction has extended into a deeper part of the Fibonacci range.
The chart structure has changed with the breaking of trendlines, and the 100-day average now serves as the clearest remaining measure of medium-term support. The daily close will confirm whether HYPE can recover or if it falls further.