- Hyperliquid price fell 9.26% after Arthur Hayes sold $18M in HYPE
- The $60 to $64 zone remains the key support area for bulls
- A break below support could expose HYPE to the $55 level
Hyperliquid (HYPE) is facing a critical test after dropping more than 9% in a single day, following Arthur Hayes’ sale of roughly $18 million worth of tokens. The move triggered broad profit-taking and shifted attention to the key $60–$64 support zone.
Hyperliquid Price Faces Selling Pressure After Major HYPE Exit
Hyperliquid price is under pressure after a sharp decline pushed HYPE down 9.26% in the past 24 hours. At press time, the token traded near $66.36. The move followed news that Arthur Hayes sold 247,334 HYPE tokens worth about $18 million, according to Onchain Lens.
The sale surprised market participants because Hayes had recently maintained a long-term target of $150. He cited macroeconomic risks and growing interest in upcoming AI-related public offerings. The transaction quickly became a catalyst for profit-taking across the market.
Hyperliquid price reacted sharply as traders reassessed short-term risk. Selling activity increased shortly after the transaction became public. Many market participants viewed the move as a signal to reduce exposure.
Despite the correction, analyst Crypto Tony stated that HYPE is still holding up relatively well. He noted that a move toward $80 remains possible but prefers to wait for stronger bullish confirmation before entering.
Hyperliquid Price Tests Key Support as Traders Watch $60 Level
Hyperliquid price is now approaching an important technical area between $60 and $64. This zone contains large liquidation clusters and has become the market’s primary support range.
Holding above this region would help preserve the broader bullish structure. If support remains intact, the Hyperliquid price could enter a consolidation phase before attempting another upward move.
However, a breakdown below the support zone may increase downside pressure. Technical analysis points to the next Fibonacci support level near $55. A move toward that area would represent a deeper correction from recent highs.
The latest price action highlights the importance of the current support range. While long-term sentiment remains constructive among some analysts, short-term direction now depends on whether Hyperliquid price can maintain strength above $60.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
