Hyperliquid (HYPE) Drops 6% to $45, But Analysts Say a $55–$60 Rebound May Be Next

Hyperliquid (HYPE) extended its pullback for a fifth straight session on Tuesday, sliding about 6% intraday to the $45–$46 zone after a sharp rejection at a reclaimed trendline.

Derivatives Tilt Bearish, but Spot Holds the Line

Futures positioning has swung defensively, and according to Coinglass, the long-to-short ratio slipped to 0.80, its lowest in over a month, signaling traders are leaning short into weakness.

Momentum indicators echo the caution, daily RSI near 45 sits below the neutral 50 line, and MACD registered a bearish cross, both consistent with cooling trend strength.

Technically, HYPE failed a back-test of a broken ascending trendline and bled nearly 7% from Friday to Monday, with charts flagging $39–$40 as the next major support if selling accelerates. On the upside, $51–$52 is first resistance, where bulls likely meet clustered supply from recent breakdown levels.

Why Hyperliquid (HYPE) Bulls Still See $55–$60 on the Table

Despite the red prints, spot activity remains constructive. Hyperliquid has been defending the mid-$40s repeatedly, and prior consolidations above $45–$47 have preceded strong continuation moves.

HYPE's price trends to the downside on the daily chart. Source: HYPEUSD on Tradingview

Under the hood, token staking north of 660,000 HYPE ($30million) plus systematic buybacks are reducing circulating supply, creating a supportive backdrop when demand returns.

Meanwhile, protocol fee revenue around $3million/day underscores durable usage even as new perp-DEX competitors court volume with incentives. Community and analyst “fair-value” chatter continues to cluster around $55–$60, suggesting sentiment will likely flip quickly if price reclaims the short-term breakdown area.

Price Levels and Trade Map for the Week

The immediate trading point sits in $44–$49. A daily close back above $49 would neutralize the breakdown and open $52, then $55–$60 as momentum targets. Failure to hold $46–$47 invites a retest of $44, with a deeper flush risking the $39–$40 demand zone where dip-buyers may step in.

Market internals to watch: if funding stays orderly, liquidations remain contained, and spot-led buying outpaces leveraged shorts, the probability of a V-shaped recovery rises.