Hyperliquid (HYPE/USDT) Testing Support Amidst Overbought Conditions: Where from Here?
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Hyperliquid’s price movement against Tether is testing critical support levels, signaling that the market is stabilizing after a recent drop in value. This follows a period of upward momentum that made the pair see its value rise from a low of around $45.50 to recent highs of $48.30 before slightly declining.
Currently, this movement suggests that the pair is relying on the $45.00 support level to avoid a larger decline, despite the fact that the market remains generally positive.
Hyperliquid, at the moment, trades at $45.18 with increasing daily bearish participation.
Technical Indicators
Major Resistance Levels: $46.54, $47.07, and $48.30
Major Support Levels: $45.00, $44.80, and $40.00
Hyperliquid Technical Analysis
On the daily timeframe, the analysis of Hyperliquid against Tether appears to be bearish, with the price hovering near the support level at $45.00. As it stands, this may signal further fall, particularly if the price fails to hold this support and begins to form lower lows. However, the positioning of the cluster of moving averages (GMMA) suggests a heavy presence of the bears.
Meanwhile, the stochastic RSI’s overbought conditions suggest that a correction or sideways price action could take place before another leg up. To this end, a break below the $45.00 support could signal a deeper correction, with a target of around $40.00
$HYPE trading at a super important level here.
After many weeks, we have printed the first lower low and somehow broke the uptrend.
Now we have the chance to break that local resistance and prevent the formation of a lower high.
Very sensitive moment, time to pay attention! pic.twitter.com/hTgxqLtMfj
— Sjuul | AltCryptoGems (@AltCryptoGems) October 6, 2025
However, @AltcryptoGem appears to be optimistic about the near-term value of Hyperliquid, stating the current low should motivate buyers for renewed bullish actions so as to prevent the formation of another low.
HYPE/USDT Analysis: Bearish Divergence Signals Short-Term Downtrend
On the 4-hour chart, HYPE/USDT shows a significant drop in price, operating below its recent support at $46.00 and currently testing a new low at $45.185.
As it stands, the stochastic RSI has entered oversold territory (0.95), indicating a strong bearish momentum. Additionally, the GMMA is showing that the shorter-term moving EMAs have started diverging downwards from the longer-term EMAs, signaling further downside risk.
As of now, HYPE/USDT is recording decreasing volume, and the price is showing signs of a potential downtrend. However, failure to reclaim at least $47.00 may lead to further testing of $40.00, reinforcing the possibility of a deeper retracement.
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