HYPE Struggles Amid Market Downtrend
HYPE, a token from the crypto derivative exchange Hyperliquid, is currently facing challenges as investor interest rises amidst a decline in the overall digital asset market.
> A whale deposited $10M $USDC into #HyperLiquid and placed TWAP orders to buy $HYPE.
> — Onchain Lens (@OnchainLens) June 21, 2025
Whales to Buy the Dip
Market analyst Onchain Lens reported a whale’s $10 million USDC deposit into Hyperliquid, followed by Time-Weighted Average Price (TWAP) orders to purchase HYPE tokens. TWAP allows traders to spread a large order into smaller transactions, mitigating the market impact and aligning purchases closer to the asset’s average market price. This activity indicates optimism from whales and long-term investors considering the recent price falls.
HYPE’s Decline
HYPE has been on a downward trajectory after a strong uptick in previous weeks, presently priced at $34.85—down 7.1% in one day and 17.3% in the last week. Notably, HYPE remains above a critical demand zone, as observed by crypto analyst Trade Tim. He highlighted that significant investor interest might arise if HYPE drops to the $30.5 and $28.7 zones, which previously triggered an upward trend.
Trader Tim believes that returning to this zone could indicate a potential price reversal. Currently, HYPE is forming a diamond bottom pattern, often signaling a bullish breakout. If it can exit this correction phase, HYPE could target price points of $36.00 and $40.91 in the near future.
Comments (5)
Shazali Abubakar Shehu
00:14 - 23/06/2025
Great
Shazali Abubakar Shehu
00:14 - 23/06/2025
Great
STEPHEN MMADUABUCHI UGWU
18:06 - 22/06/2025
Great
STEPHEN MMADUABUCHI UGWU
18:06 - 22/06/2025
Great
dungninhthuantdc@gmail.com
03:06 - 22/06/2025
Hi