Is HYPE on the Brink of a Dramatic Comeback? You Won’t Believe What Happens Next! 😱

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  • Ah, the month of March, where Hyperliquid found itself in a bearish tango.
  • Steady selling pressure, like a persistent rain, suggested that any price bounce would be as fleeting as a summer romance.

On the fateful day of March 3rd, Hyperliquid [HYPE] plummeted below the $18.5 support level, a fortress the bulls had valiantly defended since January. Alas, the market sentiment turned sour, and the selling pressure behind HYPE led to losses deeper than a philosopher’s thoughts on existence.

Even the mighty whale purchases could not halt this descent. In a twist of fate, the whale trader who once caused a $4 million loss to Hyperliquid’s HLP vault returned, igniting debates among analysts about whether profitable patterns are as elusive as a good cup of tea in a storm.

One might ponder, could reducing leverage limits be the answer? Perhaps, but it could also strangle business and send HYPE’s price into a downward spiral, much like a poorly executed ballet.

Will Hyperliquid prices leap to $20.3 in the coming days? Or is that just wishful thinking?

The 12-hour chart, a somber tale of bearishness, revealed that the market structure had been in decline since mid-February, after falling below the $22.2 level. The loss of $18.5 was akin to a final nail in the coffin, sealing the fate of the next leg south.

Accompanying this descent was an OBV in freefall, indicating heavy selling volume, while the RSI remained below 50, languishing below 40 for most of March. It was a scene reminiscent of a tragic play, where the protagonist struggles against the odds.

The $12-support level, previously tested in December, saw another reaction recently. Yet, the prospect of a bullish reversal seemed as likely as a cat learning to swim. The upcoming bounce? Merely a liquidity grab, a fleeting moment of hope.

To escape this bearish structure, HYPE would need to ascend beyond $21.5 and $24.95. Until then, the medium-term outlook remains as bleak as a winter’s night.

The liquidation map revealed a cluster of high-leverage liquidation levels around the $14.84 region, a precarious position indeed. It was close enough to the price to make one’s heart race.

As liquidity attracts prices, a short-term bounce to $14.8-$15 may occur over the weekend. But come Monday, those gains could vanish like a magician’s rabbit, leading us back to the $12.1 support, and perhaps even lower. Ah, the drama of it all!

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2025-03-15 17:14