• Hyperliquid (HYPE) is trading at $42.53 after facing rejection near resistance.
• Price remains stable on the weekly chart but slipped 1.75% in the last 24 hours.
• Momentum indicators signal weakness, with RSI sliding toward bearish territory.
• Open interest shows a slight decline while the funding rate stays balanced.

HYPE is on the way to its positive price trajectory and is experiencing a surge in its price, in line with the crypto market. The token is showing stability over the last 24 hours, but its price over the past week is up by 1.1%. At the time of writing, HYPE is trading at $42.53.

On the technical front, the asset is hovering below $45.32, which has turned into a strong resistance zone. The lower boundary of the Bollinger Bands at $41.67 now provides immediate support.

A decisive breakdown beneath this level could invite further weakness, dragging the token toward the $40 to $38 range. Conversely, defending support may allow a mild rebound back toward resistance in the near term.

Also Read: Hyperliquid (HYPE) Whale Activity Fuels the Price  Rally Toward $60

HYPE: A resistance zone forms between $49 and $50

Market indicators highlight growing caution among traders. The Relative Strength Index (RSI) has fallen to 44.35, a notable decline from the neutral-bullish reading of 58 recorded earlier. This shift signals fading buying pressure, with the indicator inching closer to oversold territory.

A move below 40 could trigger a short-lived bounce, but sustained weakness would reinforce bearish momentum. The Moving Average Convergence Divergence (MACD) indicator has also shifted bearish. A crossover emerged as the MACD line slipped under the signal line, accompanied by a negative histogram.

This pattern confirms mounting downside risk, suggesting sellers are taking control of the short-term trend. Together, these signals paint a cautious outlook for HYPE unless buyers reclaim lost ground quickly.

Hyperliquid’s short-term outlook remains tilted to the bearish side, where $41.67 remains the vital support juncture of interest. A clear break above $45.32 would reverse the prevailing configuration and clear a path towards the region of resistance seen between $49 and $50. Until a change of direction happens, optimism remains with caution intact as the token bobs around within a tenuous and unpredictable market environment.

Market Activity and Derivatives Outlook

Though there is temporary weakness, Hyperliquid has active involvement in both derivatives and spot markets. Trading volume has hit $200.9 million within the last 24 hours, a sharp fall of 46.37%. Market capitalization of the project is steady at $14.22 billion, a clear indication of robust underlying investor demand.

Open interest in derivatives rose by 0.28%, reaching $1.77 billion. The increase suggests traders are opening fresh positions, reflecting steady market participation.

At the same time, the OI-weighted funding rate stands at 0.0074%, which means a balanced usage of leverage on both ends of the equation. Such stability reduces the risk of liquidation swings on the fly and encourages steadier conditions conducive to sustained market activity.

Also Read: Hyperliquid’s Explosive $1.1 Billion Revenue Triggers $54 Price Target