Hyperliquid (HYPE) has seen renewed selling pressure as price action tested an important level of support that has been closely monitored by technical analysts. The asset has been experiencing weakness over the past few sessions, with technical indicators showing that buying power has yet to be regained.
At the time of writing, Hyperliquid (HYPE) is trading at $26.46, with a 24-hour trading volume of $520.18 million and a market capitalization of $6.85 billion. The token had declined 3.6% over the last 24 hours, extending its weekly losses to nearly 9% amid crypto market consolidation.
Source: CoinMarketCap
HYPE Tests Crucial Support Zone
In a post on X, crypto analyst Alpha Crypto Signal stated on February 24, 2026, that HYPE has entered a price area that most people were looking for, and also stated that the next step depends on whether it can hold firmly above this support zone or not.
Source: X
If it does, it could open the door for a potential recovery, but market direction is another important factor to note. The Alpha Crypto Signal stated that if Bitcoin (BTC) stabilizes in the short term, the conditions for HYPE could improve.
HYPE Momentum Remains Technically Weak
From a technical analysis point of view, the momentum indicators are showing a cautious approach. The RSI is sitting at 43.03 on the daily chart, which is well below 50. This shows a lack of buying power. The average of the RSI is 41.96, showing that the token has yet to gain any real upward momentum.
Source: TradingView
HYPE is trading below its significant moving average ribbon levels of $31.36 and $33.97. The trend continues to be bearish for the asset. The price continues to trade below these resistance levels, which need to be reclaimed to shift the trend.
The MACD is still weak. The MACD is -2.58, which is below the signal line -2.44. This is a sign of short-term selling pressures. The histogram is slightly negative, -0.14. A bullish confirmation is needed to change the momentum.
Also Read | Stellar Holds Key Support as Unconfirmed Reversal Keeps XLM Under Pressure
HYPE Support Faces Bitcoin Pressure
For the time being, HYPE is maintaining a technically significant level. Holding current support levels may help to stabilize the price action and spark new demand if Bitcoin avoids further volatility.
A clean break below support levels could leave the token vulnerable to further potential losses before new support levels are established.
Also Read | ASTER Signals Pullback Toward $0.56–$0.59 Support After Breakout
