2 Reasons Why $35 Is a Critical Juncture for Hyperliquid (HYPE) Price

Hyperliquid (HYPE) price is currently trading around $38.27, facing two primary bearish signals that make the $35.03 level critical. First, a dense liquidation cluster of $27.36 million in long positions exists at $35.03; a drop below this level would trigger forced liquidations, creating mechanical selling pressure that could accelerate a decline toward the $32.33 Fibonacci level.

Second, momentum indicators suggest selling pressure is dominating. The Klinger Oscillator (KVO) is trending downward and converging toward a bearish crossover below the zero line, which historically precedes drawdowns for HYPE. The completion of a double top pattern projects a full downside target toward $21.64 if the $35.03 neckline breaks.

For bulls to invalidate this bearish outlook, HYPE must reclaim $38.80 and decisively break above $42.67 to negate the double top structure.

(Source：BeInCrypto)