Why is the Hyperliquid (HYPE) Price Down Today?

Hyperliquid’s HYPE crashed by almost 10% today. Let’s examine some of the possible technical reasons behind it.

HYPE set a new record high, but this attracted sellers, pushing it into a pullback.

Hyperliquid (HYPE) Price Predictions: Analysis

Key support levels: $52

Key resistance levels: $63

Pullback Ongoing as Sellers Return

As soon as HYPE set a new record price just under $65, sellers returned, sending it into a pullback. At the time of this post, the price is around $57 and is likely to fall even lower, with key support at $52.

Even so, this cryptocurrency remains one of the best-performing assets of 2026, with its price doing a quick 3x since January. For that reason, a pullback here is normal and was expected. The question is if $52 will hold or not to maintain the uptrend intact.

Short Term Bearish, Long Term Bullish?

While the price may enter a correction in the short- to medium-term, the outlook on higher timeframes remains quite bullish. HYPE’s fundamentals are some of the strongest in crypto, and the recent HYPE ETFs bring additional buy volume which was not present in the past.

This is why a correction here could prove quite shallow, especially if the support at $52 holds. In that case, the uptrend remains very much intact and would open the way for the price to make new records later.

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RSI Entered Danger Zone

One of the key signals that HYPE was getting overheated and overextended could be seen on the 3-day RSI where this indicator reached over 77 points, a level not seen since May 2025.

Whenever the RSI enters the overbought area (above 70 points) it’s always prudent to be careful since the price may show emotional buying which no longer offers an edge and could be a top. So far, this pullback seems to confirm that.