HYPE Rally Faces Exhaustion, Pullback Risk Looms
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Hyperliquid's HYPE token has shown signs of exhaustion near its record-high resistance, with a whale holding a short position despite a $22 million unrealized loss. This suggests persistent bearish conviction among large players, increasing the likelihood of a correction. Technical indicators point to a potential 20% decline toward the $51.5–$45 support zone if current resistance holds. The market remains on edge as HYPE's price action tests key levels, with the outcome likely to set the short-term trend. Traders should monitor for a breakdown below support, which could accelerate selling pressure.
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