Coinidol.com: Hyperliquid Remains Stable Above $22

The Hyperliquid (HYPE) price has stalled at the 21-day SMA barrier, as buyers have been unable to maintain bullish momentum.

Hyperliquid price long-term analysis: bearish

Over the past 48 hours, the cryptocurrency has fluctuated below the 21-day SMA before returning to its range above the $22 support. The altcoin is trading within a narrow range, below its previous high. HYPE is likely to experience either a price drop or a rebound. If buyers break above the 21-day SMA, HYPE could rise to $29 or the 50-day SMA.

However, if the current support level is breached, the altcoin may fall to $18. As of this writing, the altcoin is trading at $24.58.

Technical Indicators:

• Resistance Levels – $60 and $70

• Support Levels – $40 and $30

Hyperliquid price indicators analysis

The moving average lines continue to slope downward, with the price bars below them. The 21-day SMA remains a resistance to the cryptocurrency's upward movement. On the 4-hour chart, the price bars are positioned below the horizontal moving average lines and remain stagnant above the $24 support.

What is the next direction for Hyperliquid?

The HYPE price has remained stable above the $22.50 support and below the $26.50 resistance. Bullish momentum has been halted by the $26.50 barrier.

Currently, the cryptocurrency price has retraced and is consolidating above the $24 support. The formation of a Doji candlestick above the current support level indicates indecision among traders.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.