Join Our Telegram channel to stay up to date on breaking news coverage
The Hyperliquid price plummeted 5% in the last 24 hours to trade at $39.58 as of 1:18 a.m. EST, with trading volume soaring 31% to $605 million.
The drop in the HYPE price comes amid a broader market correction, with the crypto space plunging 6% in the last 24 hours to a $3.3 trillion market capitalization.
Hyperliquid Price Goes Through A Correction, Could Plunge Even More
The HYPE price shows a strong bullish recovery from its March lows, progressing within a rising channel pattern. After bottoming near $10.32, the Hyperliquid price has steadily trended upward, recently topping out at approximately $44.11.
The HYPE price currently trades around $39.58, indicating a minor pullback from its recent high.
The recent rejection from the upper boundary of the Fibonacci extension zone, near the 0.236 retracement level at $36.13, aligns with typical corrective behavior seen after a strong impulse wave.
Hyperliquid price action reveals a potential short-term corrective retracement, particularly if HYPE fails to hold above the golden pocket (0.618–0.5 Fibonacci zone).
However, the 50-day Simple Moving Average (SMA), currently at $28.88, is trending upward, reflecting positive medium-term momentum. The price is comfortably trading above this SMA, reinforcing the ongoing bullish structure despite short-term corrections.
Meanwhile, the Relative Strength Index (RSI) is currently at 63.96. This is just below the overbought threshold of 70, indicating strong buying interest but also cautioning that bullish momentum could be tapering off.
HYPE Price Signals A Slight Correction
The Hyperliquid price is currently in a bullish uptrend with a possible short-term correction underway.
If the price of HYPE holds above the $36.13 level (0.236 Fib), there could be a resumption of the uptrend targeting a retest of $44.11, and potentially a breakout toward the psychological level of $50.
However, if HYPE breaks below $36.13 with conviction, the next key support levels lie at $33.4, a 15% plunge from this level.
The next support levels are at $31.20 (0.382 Fib) and $27.21 (0.5 Fib), where the 50-day SMA also provides a convergence of support.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER is one of the best crypto ICOs to buy now.
Bitcoin Hyper Presale Soars Past $1.17 Million – Buy And Stake For 630% APY
Bitcoin Hyper could finally bring Bitcoin into the modern crypto age as it leverages layer 2 technology to solve Bitcoin’s slow transactions and high fees.
The project is building a layer 2 network on top of Bitcoin’s blockchain using the Solana Virtual Machine (SVM) to deliver lightning-fast transactions and dirt-cheap fees.
The magic happens through a Canonical Bridge, a secure system that lets you deposit your BTC, get wrapped tokens for use on layer 2, and move back to Bitcoin’s main chain whenever you want.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Bitcoin Hyper’s presale is gaining momentum rapidly. The project has already raised over $1.17 million.
Additionally, if you buy and stake now, you could unlock a 630% APY; however, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.011875 each using crypto or a bank card.
Buy before the next price increase in about 33 hours.
Visit the Bitcoin Hyper website.
Related News:
- Cardano Price Prediction for Today, June 12 – ADA Technical Analysis
- Top Cryptocurrencies to Invest in Now, June 12 — Pax Gold, Chintai, FTX Token
- BTC Plunges 4%, Investors Flock To This Bitcoin-Gifting ICO With Time Running Out
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
