Why The Universe Is Laughing At Hyperliquid’s Price Plummet 😂

by

Hyperliquid (HYPE) price has nosedived nearly 16% in the last 24 hours. As if the universe just had a good chuckle at its expense, the market cap is now lounging at a casual $7.4 billion. Technical wizards suggest sellers are manning the helm, with the Directional Movement Index (DMI) and BBTrend both mirroring their inner sloths. 🦥

EMA lines are also flirting with the idea of a “death cross,” which sounds as ominous as it is. If support decides to throw a tantrum around $21.1, this free-fall could get even more dramatic. However, if buyers step in like unexpected plot twists in a soap opera, HYPE might rebound to a whopping $24.39, with dreams of a breakout dancing around $27.

HYPE DMI Chart: Sellers on a Power Trip

Hyperliquid Directional Movement Index (DMI) chart illustrates a majestic shift in momentum, with its Average Directional Index (ADX) skyrocketing to 20.3 from a humble 9 in a mere four days. 🚀

The ADX measures trend strength on a scale from 0 to 100, with values below 20 saying “meh” and readings above 25 suggesting, “Houston, we have a trend!” This recent surge implies HYPE’s rollercoaster is on a downtrend, but let’s not get ahead of ourselves. It’s still in the awkward stage of growing into it.

DMI Chart

The +DI (Positive Directional Indicator) has performed a classic vanishing act, plummeting from 30.9 to 14.1, while the -DI (Negative Directional Indicator) has just belted out a dramatic operatic rise from 13.5 to 25.2, signaling a shift towards the dark side. 🌑

With -DI now taunting +DI, sellers are throwing a control-anarchy party, reinforcing HYPE’s bearish trend. If ADX keeps rising above 25, it would confirm the downtrend putting on its big boy pants, hinting at more losses unless buyers decide to stage a coup.

BBTrend: Still Optimistic, But on a Diet

It appears HYPE’s BBTrend has decided to engage in some tragic sarcasm, dropping from 10.1 yesterday to a mere 3.15 today, signaling a wimpy bullish momentum. BBTrend (Bollinger Band Trend) measures price trend strengths based on Bollinger Bands, where positive values cheer for an uptrend and negative ones hoot for a downtrend.

The higher the BBTrend value, the stronger the trend strut. While HYPE’s BBTrend remains positive, its sharp nosedive suggests buying pressure is just about ready to board the next flight out.

BBTrend Chart

With BBTrend diving quicker than my New Year’s resolutions, HYPE’s price momentum is hitting the breaks, raising the specter of a potential reversal or deeper plummet. If BBTrend flips negative, it could spell an official tone of doom—a shift into a downtrend. 😱

However, should buyers pluck up the courage and stabilize the trend, HYPE might pull a Houdini and regain some bullish flair. The next few sessions will be an anxious nail-biter in determining whether this decline is just a lousy Tuesday or the start of a broader correction binge.

HYPE Price Prediction: Under $20, Here We Come?

Hyperliquid Exponential Moving Average (EMA) lines are performing a delicate dance, as short-term EMAs flirt above long-term ones but seem to have heard of gravity. If they cross below—a so-called “death cross”—it would wave a neon sign for a stronger bearish trend. 🎭

In such a drama-filled scenario, HYPE could test that crucial support at $21.1. If that level decides to wave a white flag, more downside could push prices to the $20.1 support line or even $18.89, the lowly depths since January 13. This would broadcast increasing selling mayhem and an imposing downtrend.

EMA Chart

Yet, if HYPE’s price bulls above support, and momentum shows up fashionably late, it could aim for a trend change party. A rebound from here might invite a test of that elusive $24.39 resistance, and breaking it could catapult the price toward $27—truly a plot twist few saw coming. 🎢

Read More

2025-02-02 16:22