Hyperliquid’s $43 rally stalls – What’s next for HYPE traders?

Hyperliquid's Rally Stalls: What's Next for HYPE Traders?

Hyperliquid's (HYPE) rally to $43 has stalled, with the daily structure remaining bearish despite the encouraging rally.

The $36 level is acting as a short-term demand zone, with $33.10 and $31.18 identified as key support levels on the daily chart.

At the time of writing, HYPE is up 4.3% over the past 24 hours, but its gains are capped by Bitcoin's (BTC) rejection at the $116,000 resistance level.

In the last 6 hours, HYPE has retraced 7.64%, falling from $43.14 to $39.85, with trading volume surging by 30% to indicate heightened market activity.

The wider altcoin market has experienced a price bounce, with increased HYPE trading reflecting this, and DefiLlama data showing consistent trading volume on the DEX in October.

The platform also dominated the top chains by fees.
Author's Summary:

HYPE's rally stalls after reaching $43, with key support levels at $33.10 and $31.18.

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