In summary
Hyperliquid (HYPE) is down 9% despite the HyperEVM launch, indicating weak momentum and increasing downside pressure.
HYPE’s ADX has fallen to 10.6, suggesting a lack of strong trend, while the RSI has dropped sharply, nearing oversold territory.
If selling pressure continues, HYPE may test the $22.5 support level, but a break above $27.4 could push it above $30.
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Hyperliquid (HYPE) Price Dips Over 6% in 24 Hours Despite HyperEVM Launch, Aimed at Expanding Platform’s DeFi Capabilities.The integration of Ethereum Virtual Machine (EVM) functionality was expected to bring programmability to Hyperliquid’s trading ecosystem.
However, technical indicators point to weakness, with waning momentum and bearish signals emerging. Whether HyperEVM can spur renewed buying pressure or the current downtrend will persist will be key in determining HYPE’s next major price move.
Hyperliquid Launches HyperEVM, As It Continues to Mint Millions in Daily Fees
Hyperliquid has launched HyperEVM, marking a major step toward integrating smart contract functionality into its high-speed financial system. The upgrade brings compatibility with the Ethereum Virtual Machine (EVM), enabling decentralized applications while preserving the platform’s trading experience.
The initial mainnet release includes security backed by HyperBFT consensus, seamless transitions between native HYPE and HyperEVM HYPE, and a standard WHYPE system contract to support DeFi activity.
Hyperliquid Continues to Cement Its Status as a Major Player in Crypto, Ranking Among Top 20 Revenue-Generating Apps This Past Week
The platform has generated over $8.5 million in revenue in the past seven days, surpassing notable projects such as Ethena and Marinade, while nearing Maker, BullX, and Ethereum.
Hyperliquid Indicators Suggest Upward Pressure Isn’t Dominant
HYPE’s DMI shows its ADX has dropped to 10.6, down from 18.9 four days ago, signaling a weakening trend. An ADX reading below 20 often suggests a lack of strong momentum, meaning the current market move lacks conviction.
Meanwhile, +DI (23.3) remains slightly higher than -DI (21.4), indicating upward pressure persists but isn’t dominant.
However, with short-term EMAs trending downwards despite remaining above long-term EMAs, the market may face the risk of further weakness. If short-term EMAs continue to decline, a bearish crossover could form, reinforcing downward pressure.
HYPE’s RSI has also dropped significantly, from 68 to 33.1 in just four days, reflecting a rapid loss of upward momentum. Although the current reading remains above the 30-threshold for oversold conditions, the sharp decline suggests sellers are in control.
If the RSI continues to decline, HYPE’s price could enter oversold territory, potentially triggering a rebound if buyers step in. However, if the bearish momentum persists, it could signal further downside before any significant recovery occurs.
The combination of weakening trend strength and a falling RSI suggests HYPE is in a precarious position, with traders closely monitoring for signs of stabilization or further decline.
HYPE Price Prediction: Can Hyperliquid Break Past $30?
HYPE’s EMAs suggest that a death cross may be forming, as short-term EMAs are trending downwards and nearing a crossover below long-term EMAs.
This is often a bearish signal indicating weakening momentum and the possibility of further decline. If the downtrend continues, HYPE’s price may test the support level at $22.5. If that level fails to hold, the price could drop further to $20 or even $18.89, marking the first time it has fallen below $20 since late January.
A confirmed death cross would reinforce selling pressure, making a recovery more challenging in the near term
However, if the HyperEVM launch sparks renewed buying interest, Hyperliquid could regain upward momentum and target $27.4 as the first major resistance level.
A break above that level could lead to a test of $28.3, and if the upward momentum is sustained, HYPE’s price could surpass $30, a level not seen since December 2024.
The market’s reaction to the HyperEVM launch will be key in determining whether HYPE breaks out of its current downtrend or continues to face pressure.
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