HYPE Drops 6% to $46: Trend Reversal or Hidden Buy Signal for the Bulls?

Hyperliquid (HYPE) has pulled back to $46, down 6% in the last 24 ￰0￱ weekly performance remains slightly positive, showing a 2% ￰1￱ volume continues to be strong, with over $647 million recorded in the same period. Meanwhile, this recent drop follows a period of upward movement, raising questions about whether current price action marks a short-term correction or the start of a deeper ￰2￱ Pulls Back Into Key Zone HYPE is now sitting near the top of a known demand area between $43 and $45. This zone has acted as support multiple times in the ￰3￱ price recently lost the 50-day exponential moving average, which is now at $47, confirming pressure from the downside.

A recovery from this range could lead to a retest of $51. If that resistance is cleared, a continuation toward $60 becomes possible. However, if buyers fail to defend this zone, the next level of interest sits lower at $36. A break toward that level would suggest a full shift in trend.) October 7, 2025 This follows the earlier drop below support in late September, which marked the first lower low.

A lower high after a lower low often points to a changing trend, where sellers begin to take ￰4￱ Outflows Spike: Selling Over? According to recent exchange data, HYPE recorded a net outflow of $3.31 million on October ￰5￱ activity happened as the price dropped from around $53 to $46. Large outflows often suggest that traders are moving tokens off exchanges—an activity usually associated with reduced selling ￰6￱ the past few weeks, outflows have increased again after a brief return of inflows, pointing to a cautious mood in the spot market.