• Hyperliquid is currently priced at $41.127 with a volume of $804.56 million, a decline of 6.22%
• Technical analysis shows a possible head & shoulders chart pattern that threatens a fall to $20.
• Smart money is placing a total of $379 million in leveraged positions, indicating confidence in a potential HYPE rebound.

Hyperliquid (HYPE) is currently trading at $41.127, indicating that the token has a 24-hour trading volume of approximately $804.56 million. Its dominance in the marketplace is at 0.37% with a market capitalization of $13.63 billion, showing a negative performance of 6.22% in the last 24 hours.

HYPE Could Drop Toward $20 Soon

As crypto analyst Ali Marteniz highlighted that Hyperliquid is possibly forming a head & shoulders pattern, a technical analysis that could see the price of HYPE fall to $20 if it materializes. However, giant positions held by institutional investors as well as high-performing traders continue to demonstrate investors’ confidence in HYPE’s long-term price potential.

Institutional Investors Eye Hyperliquid’s Next Big Move

Whale Insider exposed that a leading performer in the market has a 10x long position in Hyperliquid, in addition to large long positions in SOL, BTC, and ETH. This particular account is believed to hold a total of approximately $379 million.

This activity in major accounts signifies renewed confidence in Hyperliquid. Historically, when large positions appear after a consolidation period, the market often experiences sharp upward movements. This positioning of high-value portfolios in HYPE signifies that investors are preparing themselves for a breakout.

Also Read | Hyperliquid (HYPE) Surges as $645 Million Token Buyback Signals Major Bull Run

On-Chain Data Suggests a Rebound Could Be Near

HYPE is underperforming in comparison to bigger names such as BTC, SOL, & XRP, according to analysis by crypto analyst Tobias Reisner. Such temporary dips often lead to mean reversion rallies, where the price catches up to its peers after a period of lagging. On-chain data shows healthy trading volume and stable inflows on exchanges, suggesting that a momentum shift could be on the horizon.

As long as Hyperliquid retains its level around $40 and funds begin to flow back in from large cryptocurrencies, the market could see a sharp upward movement in the coming sessions. 

Also Read | Hyperliquid (HYPE) Price Eyes $50 Resistance Breakout as Analysts Predict Further Upside