- Analyst Ali warns $HYPE could drop to $39 after repeated rejections around the $49–50 resistance zone.
- Whale bought 49,871 $HYPE worth $2.4M at $48.14, yet trading volume is moderate at 19.3K.
- RSI at 54.47 and a bearish MACD crossover signal weakening momentum despite recovery from August lows of $36.
Hyperliquid’s native token HYPE is trading near a key resistance area, with analysts warning of potential downside if rejection persists. The asset tested the $49–50 zone twice but failed to break higher.
These repeated rejections suggest sellers are firmly defending the region, creating uncertainty around the token’s short term direction. According to analyst Ali, the price could fall toward $39 if the top holds and selling pressure increases.
Resistance Holds Firm Near $50
The $49–50 range has been a strong resistance area following multiple failed breakout attempts. The latest price action shows a double top structure near this level. Double top patterns are often viewed as bearish setups if confirmed by continued rejection.
A dotted projection on the chart illustrates a possible decline first toward $44 and potentially deeper toward $40. This aligns with broader technical levels where $44 is the nearest support, coinciding with earlier consolidation.
Below that, $40 acts as psychological support, having held firm on several occasions. Deeper downside is at $31, which is the major range bottom. The pattern therefore shows $50 as a decisive barrier that the market is watching.
Whale Activity and Market Signals
Onchain Lens reported that a whale deposited $2.4 million in USDC and bought 49,871 $HYPE at $48.14. This purchase came as the token consolidated below $50, raising questions on whether large buyers can influence direction near this barrier.
Despite the accumulation, trading volume is moderate at 19.3K, showing no surge in activity. Momentum indicators further show mixed conditions.
The RSI is at 54.47, slightly under its moving average of 56.90, suggesting mild weakness. Meanwhile, the MACD shows a bearish crossover, with the histogram at –0.089. This setup shows fading strength unless momentum recovers quickly.
Key Levels Ahead
The market has shown strong recovery from August lows of $36, but momentum now is stalling. Holding above $44 keeps the broader upward trend intact, yet failure at $50 strengthens the bearish setup.
If rejection continues, downside targets are at $44 and $40, as highlighted by Ali. However, analysts also note that a confirmed breakout above $50 would invalidate the bearish structure.
In that case, upside targets change toward $52–54, supporting continuation of the recent uptrend. The decision point is clear, with resistance at $50 and support at $44 acting as near term pivots.
