The Hyperliquid (HYPE) price has fallen below the moving average lines, indicating a sideways trend.
Hyperliquid price long-term analysis: bearish
The cryptocurrency is range-bound, trading above the $34 support but below the $52 resistance. Buyers have failed to keep the price above the moving average lines for a second time.
On November 4, HYPE reached a low of $35. Bulls have bought the dips to push the price above the moving average lines. However, the upward movement is being rejected at the 21-day SMA barrier.
Today, the cryptocurrency price is falling after being rejected at the 21-day SMA level. On the downside, if the bears break the current support, the cryptocurrency could fall to lows of $30 and $28. HYPE was trading at $42,17 at the time of publication.
Technical Indicators:
Hyperliquid price indicator analysis
The price bars are below the horizontal moving average lines. The horizontal 21-day SMA acts as the resistance line for the price bars. On the 4-hour chart, the price bars are below the downward-sloping moving average lines, indicating a decline in the cryptocurrency.
What is the next direction for Hyperliquid?
HYPE is declining, although it held above the $36 support on November 4. The cryptocurrency is trading sideways, above the $36 support but below the $44 high. The price fluctuates both above and below the moving average lines. The sideways movement may continue if the range-bound levels are not broken.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
Source: https://coinidol.com/hyperliquid-fluctuates-above/
