The post Mapping Hyperliquid’s slide – Will THESE zones reject another HYPE bounce? appeared on BitcoinEthereumNews.com. Hyperliquid [HYPE] has been in a steady downtrend in November and December. The beginning of December saw a 24.1% price bounce from $29.15 to $36.17, but this was not enough to end the downtrend. A recent AMBCrypto report drew attention to the monthly HYPE unlocks. The release of 10 million HYPE at the end of each month isn’t fully understood yet. It will likely take a few months of unlocks to better appreciate the magnitude of selling pressure, according to Delphi Digital’s analyst Jason. Another report highlighted whales purchasing HYPE, but observed that the market remained cautious. Why the HYPE trend remains firmly bearish Source: HYPE/USDT on TradingView On the 1-day chart, the HYPE structure was reinforced to be bearish once again. Since October, the token has formed a series of lower highs and lower lows on the daily chart. The most recent lower low at $29.15 (orange) was breached on Tuesday, the 9th of December. This breach meant that more losses were likely to follow. It also meant that the origin of this downward push, the $30.35-$35.36 area, is a supply zone. Any attempted recovery would run into intense selling pressure in this resistance zone. The DMI showed a strong bearish trend in progress, and the CMF was below -0.05 to signal strong capital outflows. Source: HYPE/USDT on TradingView A set of Fibonacci extension levels based on last month’s swing from $50.16 to $29.15 shows the next bearish HYPE price target at $24.19. The hourly chart gives mixed signals. The DMI confirms an active uptrend, but capital flows shifted from bullish to neutral. To the north, the $29.89 and $30.68 were key short-term resistances. What HYPE bulls need to achieve to flip the downtrend The recent bearish structure break on the daily chart reinforced the downtrend strength. To turn… The post Mapping Hyperliquid’s slide – Will THESE zones reject another HYPE bounce? appeared on BitcoinEthereumNews.com. Hyperliquid [HYPE] has been in a steady downtrend in November and December. The beginning of December saw a 24.1% price bounce from $29.15 to $36.17, but this was not enough to end the downtrend. A recent AMBCrypto report drew attention to the monthly HYPE unlocks. The release of 10 million HYPE at the end of each month isn’t fully understood yet. It will likely take a few months of unlocks to better appreciate the magnitude of selling pressure, according to Delphi Digital’s analyst Jason. Another report highlighted whales purchasing HYPE, but observed that the market remained cautious. Why the HYPE trend remains firmly bearish Source: HYPE/USDT on TradingView On the 1-day chart, the HYPE structure was reinforced to be bearish once again. Since October, the token has formed a series of lower highs and lower lows on the daily chart. The most recent lower low at $29.15 (orange) was breached on Tuesday, the 9th of December. This breach meant that more losses were likely to follow. It also meant that the origin of this downward push, the $30.35-$35.36 area, is a supply zone. Any attempted recovery would run into intense selling pressure in this resistance zone. The DMI showed a strong bearish trend in progress, and the CMF was below -0.05 to signal strong capital outflows. Source: HYPE/USDT on TradingView A set of Fibonacci extension levels based on last month’s swing from $50.16 to $29.15 shows the next bearish HYPE price target at $24.19. The hourly chart gives mixed signals. The DMI confirms an active uptrend, but capital flows shifted from bullish to neutral. To the north, the $29.89 and $30.68 were key short-term resistances. What HYPE bulls need to achieve to flip the downtrend The recent bearish structure break on the daily chart reinforced the downtrend strength. To turn…