The price of HYPE is at a pretty tense moment on the charts right now. After a steady drop in recent days, it’s back at a key support level that could decide what happens next. Crypto expert Sjuul shared on X (formerly Twitter) that HYPE is “playing with life and death,” pointing out just how important this level is. It’s the second time price has tested this area, and that’s got traders wondering whether it’ll hold or break.
Looking at the 12-hour chart, the trend is down. After moving sideways for a while, HYPE broke lower and kept forming lower highs and lower lows — a classic sign of bearish pressure. Sellers have been in control for a while now.
There was a strong rally earlier on the chart, but it didn’t last. After that, HYPE price moved into a wide range, then failed to hold its ground. Once support broke, the downtrend continued, showing a clear shift in momentum away from the bulls.
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What you'll learn 👉
Hyperliquid Key Support Level Retested for the Second Time
HYPE price is sitting on a marked horizontal support line. This zone, already tested once, is now under pressure for the second time. Each retest typically weakens support, making the outcome of this level more uncertain.
This support is the last identifiable zone before price discovery begins on the downside. A sustained move below it could open the door for further losses. The tweet refers to this area as the “last standing support,” indicating that many traders may be watching it closely.
Above the current price, the chart shows a grey-shaded area where support previously existed. After the breakdown, this zone was retested from below and rejected. This move confirms the zone has flipped from support to resistance.
The inability of buyers to reclaim this level suggests that bullish strength remains limited. The rejection also reinforces the downtrend and limits any short-term recovery scenarios unless momentum shifts.
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HYPE Price at a Technical Decision Point
Market structure and technical analysis suggest HYPE price is at a decision point. A bounce from the current support could trigger short-term relief. However, failure to hold the level could result in a deeper decline.
Sjuul emphasizes the pressure on bulls to defend the zone. The market response in the coming days may set the tone for the next phase of HYPE’s price action. Traders will likely monitor this level for either confirmation of a bounce or signs of a breakdown.
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