Hyperliquid whale won’t close HYPE short despite $22M unrealized loss

💡 DMK Insight

HYPE’s rally is hitting a wall, and here’s why traders need to pay attention: With the price nearing record-high resistance, the potential for a 20% pullback looms large, especially as it approaches the $51.5–$45 support zone. This isn’t just a technical level; it reflects trader sentiment that could shift rapidly. If HYPE breaks below $51.5, we might see a cascade effect, triggering stop-loss orders and further selling pressure. On the flip side, if it holds above this support, it could set the stage for a renewed rally, but that seems less likely given the current exhaustion signals. Traders should keep an eye on volume trends and RSI indicators for signs of divergence. A spike in selling volume could confirm the bearish outlook, while a rebound in buying pressure could signal a reversal. The next few trading sessions will be crucial—watch for any signs of weakness or strength around these key levels. If you’re holding long positions, consider tightening stops to protect against a sudden downturn.