Hyperliquid Faces Deeper Correction: Is a Crash to $26.53 Next?

By Aziz Zamani
June 23, 2025
Edited by Jayson Derrick

Following a remarkable surge that saw Hyperliquid (HYPE) reach an all-time high of nearly $45, the cryptocurrency is now grappling with a steep corrective phase. Analysts are closely watching price movements, contemplating whether the asset could plummet to a critical support level around $26.53. ## Market Dynamics and Current Trends

Since hitting its peak, Hyperliquid has been in a continuous downtrend, characterized by a lack of any confirmed higher low or significant trend reversal. As it stands, the asset is seeking to establish a higher low; however, current signs indicate that a bottom may not yet have formed. Throughout this correction, volatility and weakness in the price action have persisted, leading many traders and analysts to speculate on the potential for further declines.

The cryptocurrency recently navigated down to the Value Area High region, where a minor bounce was observed. However, this level is not considered a major support zone, suggesting that any temporary uptick may be short-lived and more corrective than indicative of a bullish turn.

Key Technical Indicators

Technical analysis of Hyperliquid provides crucial insights into its evolving market landscape:

• Current Support: The Value Area High is providing short-term support, but its effectiveness remains questionable.

• Major Support Level: The significant level to watch is $26.53, which aligns with the 0.618 Fibonacci retracement level and serves as the Point of Control, indicating an area with the highest volume traded. This confluence of indicators makes $26.53 a critical level for potential reversal.

• All-Time High Resistance: The previous all-time high of $45 has since become a macro resistance point following the sharp price reversal.

• Relative Strength Index (RSI): Currently sitting below the 50 midline, the RSI reflects bearish momentum and suggests further downside is feasible until significantly oversold conditions are reached.

The recent trend has also been shaped by the absence of a confirmed recovery, leaving traders to exercise caution as they assess the market’s next moves.

Future Expectations

Hyperliquid is still entrenched in a corrective phase, with traders eagerly awaiting confirmation that a higher low has formed. The support level at $26.53 is anticipated as a key turning point in the market. Should the asset test this support and enter oversold territory, it could provide a solid foundation for a new bullish momentum.

As the market hovers under current conditions, price action is expected to remain fragile, and further downside risks are present until legitimate confirmations arise from volume, market structure, and technical indicators.

In summary, the landscape for Hyperliquid is cautious, and while there may be opportunities for recovery, stakeholders should remain alert and pragmatic as the situation develops.

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