- A fresh MACD death cross signals weakening momentum despite HYPE reaching an $89 all-time high.
- Investors purchased $445 million worth of HYPE over seven days, supporting bullish conviction.
- Heavy long liquidations suggest short-term downside pressure could push HYPE below key support.
Hyperliquid — HYPE, recently hit another record high near $89. Now, momentum appears to be shifting beneath the surface. Buyers remain active, yet short-term selling pressure continues to build. A fresh MACD death cross has added another warning signal. Meanwhile, traders continue accumulating millions of dollars worth of HYPE. This creates a fascinating battle between bullish conviction and weakening momentum. The next move could determine whether HYPE extends gains or enters another consolidation phase.
HYPE Faces a Technical Warning
HYPE has enjoyed steady growth over the past several sessions. The token recently climbed to an all-time high around $89. However, the latest price action suggests that buyers may face stronger resistance ahead. Sellers have started gaining ground as short-term momentum weakens. The clearest warning comes from the Moving Average Convergence Divergence indicator.
MACD tracks momentum and helps traders identify potential changes in market direction. HYPE recently formed a death cross on the daily chart. The pattern appeared when the MACD line slipped below the signal line. That setup often signals weakening momentum and possible downside pressure. Still, traders should avoid treating the signal as a guaranteed prediction. HYPE previously experienced a similar setup during June.
Following that signal, the token moved into a prolonged range. A similar outcome could develop again if selling pressure remains contained. The $80 level now stands as an important area for traders. Holding above that zone could help bulls defend the broader structure. A break below $80 could expose HYPE to deeper weakness.
Strong Buying Creates a Bullish Counterweight
Despite the technical warning, spot investors continue accumulating HYPE aggressively. Traders withdrew roughly $4.54 million worth of HYPE from exchanges. That followed approximately $73.32 million in purchases over 24 hours. The seven-day picture looks even stronger for buyers. Investors purchased about $445 million worth of HYPE during that period. Netflows reached approximately negative $17.95 million.
Negative exchange flows often suggest holders are moving tokens away from trading platforms. That behavior can signal stronger conviction among longer-term investors. Continued accumulation could limit the severity of any potential correction. Buyers could also use lower prices as opportunities to increase their positions. However, perpetual markets show a different picture right now. Long traders have suffered significantly larger liquidations than short traders.
Around $225,270 in long positions faced liquidation during the past day. Short traders lost only about $9,520 over the same period. Long traders therefore suffered roughly 23.6 times more losses. That imbalance suggests bears have gained some short-term control. HYPE could face additional selling if leveraged bulls continue closing positions. The market now sits between strong accumulation and weakening momentum.
