Recently, #Hyperliquid (HYPE) has become a bit "lively"—two large wallets directly dropped $4.2 million to buy #hype , causing many people to sit up straight. 💰 This move undoubtedly brought confidence signals to the market: whales are optimistic about this price level, and are even continuing to hoard USDC reserves, indicating that there may be more buying actions in the future.
However, although large amounts of funds are entering the market, retail investors are still a bit hesitant... In terms of price trends, HYPE is still struggling in a downward channel, constantly showing lower highs and lower lows📉. In the short term, the divergence between bulls and bears is becoming increasingly apparent—whales are confident, but retail investors are cautiously observing, and the market is trying to assess whether this whale power can reverse the short-term bearish sentiment.
📊 Technical analysis: The sellers are still in control.
From the chart, HYPE is struggling to break the resistance level of $35.48 above. The MACD is still below the signal line, the histogram shows weak momentum, and the RSI is approaching 34, with sellers clearly in control. In other words, although the price is close to historically common rebound areas, buyers haven't shown strength in the short term 💪.
This means that unless buyers can stabilize around the support level, HYPE may continue to face downward pressure in the short term.
⚖️ Traders are cautious, and open interest has decreased.
The latest data also confirms this caution: open interest (OI) has decreased by 4.44%, falling to $1.47 billion. This indicates that traders generally reduced their positions during the recent pullback, and leverage has decreased.
Some might say this could be a precursor to volatility—OI decreasing usually amplifies subsequent volatility. In other words, if HYPE attempts to rebound or bearish momentum accelerates, the upcoming volatility may be stronger than expected.
🏹 Bears are dominating, and the market atmosphere is cautious.
The long-short ratio shows that bears have a slight advantage, with bears at 52.24% and bulls at 47.76%. The gap is not large, but it indicates that even with whales buying, the overall market is still cautious. Small changes in sentiment could quickly reverse the situation, so traders are particularly focused on whale actions—if they continue to buy, it may stimulate more bulls to enter.
In the short term, whether HYPE can stabilize at the channel boundary is key to determining the next movement.
⚠️ Long position liquidations are increasing, and downward pressure is evident.
Recently, the decline in HYPE has also led to long position liquidations, with data showing that long positions lost up to $4.49 million, while shorts only lost $16,300 😬. The peak of liquidations coincides with the decrease in OI, indicating that as bearish momentum strengthens, traders are reducing risk.
However, market sell-offs usually occur when nearing saturation; once pressure is released, the opportunity for a rebound follows. Therefore, the price fluctuations in the coming days are worth close attention.
🔮 Summary
✅ Whale purchases have strengthened long-term confidence ❌ but the technical analysis remains weak, and the short term is easily under pressure ⚖️ The derivatives market shows cautious sentiment, and liquidation pressure has increased 📌 Short-term key: Can the buyers hold their ground at the support level?
In simple terms: HYPE still faces pressure in the short term, but the entry of whales keeps the long-term potential worth watching. Short-term traders should be cautious of volatility and avoid blindly chasing prices, while conservative players can look for opportunities in support areas.
The market is always changing; the entry of whales does not immediately alter the trend, but at least gives us a signal—someone is quietly positioning themselves. 🌊
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