Why HYPE Long Traders Should Worry About $24 Million Liquidations
HYPE long traders face significant risk of $24.40 million in liquidations if the token drops to its critical $35.3 support level.Summary
Hyperliquid's native token, HYPE, is showing weakness, prompting caution for long traders despite short-term rebound anticipation. Technical analysis indicates that HYPE long positions worth up to $24.40 million are at risk of liquidation if the price falls to the critical month-long support level of $35.3, which has already been tested twice. The Moving Average Convergence Divergence (MACD) indicator suggests intensifying bearish momentum following a recent bearish crossover. Currently trading around $39.9, HYPE is consolidating between $42.4 and $38.4; a loss of the $38.4 support could trigger the cascade of liquidations at $35.3. A sustained upward breakout requires improved market sentiment, potentially pushing the price toward $47.1 if the $42.2 resistance is overcome.
(Source：BeInCrypto)