According to foreign sources, the Hyperliquid currency, HYPE, has fallen by 20 per cent since recently approaching the high point of $69, and prices are again approaching a line of $60. Despite previous meetings between Hyperliquid Policy Center and the United States SEC, which led to a return to market sentiment, the token failed to continue its rebound and continued to weaken under pressure from large transfers and profits.

Large transfers to exchanges

The article quotes data on the chain that, within the last 24 hours, multiple addresses were transferred to OKX, Bybit and Gate.io to over 43.37 million HYPEs, estimated at approximately US$ 28.4 million. In the meantime, there were more than 100,000 single transfers.

Such transfers do not amount to sales already made, but usually raise market vigilance. The reason for this is that when tokens enter a centralized trading platform, they tend to be more likely to enter a sale than to remain in a private wallet.

$50 to $51 is the key.

According to the article, the fall was more of a test of critical support than a confirmed reversal of long-term trends. HYPE is now close to $50 to $51 after failing to stand above $68. At the same time, the region is close to the rising trend line and has previously broken through.

From the technical signals mentioned in the paper, the relative strength and weakness indicators have fallen from over-buying regions, but are still above the neutral line of 50, while the financial flow indicators remain slightly positive, suggesting that while prices have fallen in the recent past, financial outflows have not significantly increased. At the same time, there are no signs of panic magnification in the sale of the trade.

It's more like a profit ending.

According to the article, at this stage, the echoes are closer to the end of the profit after the round, rather than a sudden deterioration of the fundamentals. If US$ 50 supports the failure, HYPE may further explore the US$ 40-42 area; if it supports, the price will have the opportunity to retest US$ 60-62 and further challenge the US$ 68-70 drag belt.

It is also mentioned that the market should then focus on whether price, trade-off and derivative data are synchronized to indicate sales pressure failure, rather than just large household transfers per se. In its judgement, the holding of $50 to $51 will determine whether the turnback is a phase or a deeper one.