Hyperliquid (HYPE) Price Weakens as Airdrop Momentum Eases
Hyperliquid (HYPE) surged 60% in price after releasing a $1 billion airdrop of 310 million HYPE tokens to users. As it suggests, this spike was followed by a brief period of overbought conditions relative strength index rises above 70.
However, the momentum soon waned and the RSI has since dropped to 44.8, indicating neutral or slightly bearish sentiment. Although net flows have fluctuated, reaching an all-time high of $181 million on November 29, HYPE’s price remains under pressure, with both net flows and price levels declining recently.
HYPE RSI is currently neutral
thereafter airdropthe HYPE RSI briefly surged above 70, indicating that the asset is overbought.
However, this momentum did not last and the RSI started to decline. It currently stands at 44.8, indicating neutral or slightly bearish sentiment.
RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. Its range is from 0 to 100.
An RSI above 70 is considered overbought, while an RSI below 30 indicates oversold. An RSI of 44.8 indicates that HYPE is neither overbought nor oversold. In the short term, this could mean HYPE’s price could remain stable, or face minor downward pressure if momentum continues to weaken.
On November 29, superliquid flow reached an all-time high
super fluidity The net traffic chart shows a significant increase, reaching an all-time high of over $181 million on November 29. It then dropped to $66 million on December 5 before rising slightly to $69 million on December 7.
However, on December 8, net traffic dropped sharply to $9 million and is currently around -$7 million.
Net flow is the difference between total inflows and total outflows of an asset or investment during a certain period. A positive net flow indicates that more money is coming in than going out, while a negative net flow indicates the opposite.
While overall inflows still outnumber outflows, a sharp decline in net inflows into negative territory could signal a loss of investor confidence or a shift in market sentiment. This decline could indicate potential price instability or downward pressure in the short term as outflows exceed inflows, signaling a possible reversal in market sentiment.
HYPE Price Prediction: Can HYPE Fall Below $10 in December?
thereafter airdropHYPE price experienced a significant increase, reaching a high of $14.99 on December 7. After a period of consolidation, the price stabilized and then began to gradually decline.
The market appears to be in a state of uncertainty, with slight downward momentum.
If HYPE can restore the previous state bullish momentumit may rise again and challenge the resistance near $15. This could set the stage for further gains, with the next target being $16 as permanent Decentralized exchange platform Continue to attract attention.
On the other hand, if the current downtrend continues to strengthen, Hype price A test of its first major support level at $11.29 is likely. If this support proves to be weak, the price may continue to fall, potentially reaching $10.44, signaling a deeper bearish trend.
Disclaimer
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