HYPE’s rally loses steam after brief break above $31

Hyperliquid’s $HYPE token has seen a dramatic start to the week. After briefly surging past $31, the token’s price quickly retraced below $30, leaving traders debating the next move. Hyperliquid price chart | Source: Coingecko This volatility is part of a broader consolidation phase that Hyperliquid (HYPE) has been navigating for months. HYPE price has been range-bound For weeks, HYPE’s price has been trading within a clear trading range between $28 and $37. This range has acted as a stable corridor amid broader market turbulence. The structure is appealing to traders because it provides predictable support and resistance zones. Currently, the token is hovering near the lower end of this range. This is a critical area, as a bounce here…