HYPE Token Battles Key Support and Resistance Levels Amid Mixed Technical Signals

Hyperliquid's HYPE token is currently trading around $35–$36, showing signs of stabilization after a volatile decline from the mid-$40s to lows near $28–$29 in November. The price action reflects a classic breakdown-and-retest pattern, with $35.8 emerging as a critical pivot level—formerly support, now resistance. As of the latest data, HYPE is priced at $35.44, up 3.02% over 24 hours, but it remains trapped in a compressed range between $31.5 and $36.

Technical analysts are closely monitoring this consolidation. Ali Martinez highlights that a decisive break above $35.8 could signal growing demand, while failure might lead to a retest of the $28–$29 support zone. Crypto TXG adds that a sustained move above $35.8 could target $42.3, but a rejection risks another drop toward $31.5 or lower. Concurrently, Jesse Peralta's order-book analysis reveals increased buy-side liquidity between $35 and $36.5, suggesting accumulation efforts that could support a short-term rebound.

However, bearish concerns persist, with News 2 emphasizing a retest of the $25–$28 support level. Analysts warn that if this zone fails, HYPE could drop to $23, exacerbated by a lack of institutional backing and broader market volatility. The token's vulnerability in bear phases is noted, with investor confidence hinging on utility developments and regulatory clarity. Despite oversold indicators, the absence of leadership statements or direct institutional interest adds uncertainty to HYPE's trajectory for 2025, where reclaiming the $50 mark depends on breaking key resistance levels with strong volume.