Hyperliquid (HYPE) Drops 2.06% as Whale Adds Margin to Avoid Liquidation

• Hyperliquid (HYPE) trades at $12.63, down 2.06% in the last 24 hours.
• Whale adds $3.818M USDC to avoid liquidation on Hyperliquid.

The global crypto market cap stands at $2.7 trillion, reflecting a 0.58% decline over the last 24 hours. Crypto trading volume fell 25.77% to $56.88 billion. Hyperliquid (HYPE) has seen a drop, with key indicators suggesting potential market moves.

HYPE ranks 27th, trading at $12.63, down 2.06% over the last day. The market cap is $4.21 billion, with the same percentage drop. The fully diluted valuation (FDV) is $12.63 billion. The trading volume plunged 43.34% to $56.32 million in 24 hours. HYPE has a circulating supply of 333.92 million and a total supply of 999.99 million tokens.

HYPE Struggles at Key Levels Amid Whale Activity

Whale address 0x507…BeDb6 opened a 10x leveraged long position on PEPE at $0.00814 per 1,000 PEPE on March 24. The position size is $27.53 million, with an unrealized loss of $3.238 million. The liquidation price is $0.005219. To stay above liquidation levels, the whale added 3.818 million USDC in margin over the past 21 hours.

HYPE faces strong resistance at $14.50. If it surpasses this level, the next upside target is $16.00. A breakout above $16.00 could lead to further gains toward $17.50. On the downside, the nearest support level is $12.00. 

A drop below this could push HYPE toward $10.50. If bearish momentum continues, it could decline further to $9.00, signaling a deeper correction. The RSI is at 31.89, close to the oversold territory. The RSI moving average stands at 32.77, indicating weak buying momentum. If the RSI rises above 40, it could signal a trend reversal. However, if it stays below 30, further price declines may follow.

HYPE’s short-term moving average is below its long-term average, confirming a bearish trend. A moving average crossover above $13.50 could indicate a potential shift toward bullish momentum. The CMF value of -0.11 suggests capital outflows from HYPE. If CMF moves above 0.05, accumulation could increase, improving bullish sentiment.

Hyperliquid (HYPE) faces strong resistance at $14.50 and support at $12.00. The RSI remains near oversold levels, and the CMF shows weak buying interest. The MACD trend remains bearish while low volume limits momentum. If HYPE breaks above $13.50, bullish momentum could strengthen.

Highlighted Crypto News Today
FTX Begins Creditor Payouts in May With Outdated Token Valuations