- Hyperliquid price could record a short pullback of over 10% to seek support from the bottom trendline of channel pattern.
- Hyperliquid’s Long/short positioning metrics indicate a consistent rise in net-long bias since late February.
- The daily exponential moving averages (20, 50, 100, and 200) acts as dynamic support for HYPE buyers amid current market uncertainty.
HYPE, the native cryptocurrency of the decentralized exchange (DEX), Hyperliquid, is down 1.4% ahead of Friday’s U.S. market hours to trade at $40.8. The downtick aligns with a broader pullback in the altcoin market as Bitcoin shows cautious consolidation phase around the $78,000 mark. Despite the slowdown in recovery momentum, the larger investors are steadily building a long position in HYPE-linked perpetual contracts, projecting their conviction in a potential breakout in Hyperliquid price.
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