Hyperliquid price remained under selling pressure after breaking below a key support zone. At the time of writing, HYPE was traded at $63.32 with a decrease of 7.25% in the last 24 hours, while the 24-hour trading volume was recorded as $1.56 billion and the total market value was approximately $16.04 billion.
Technical outlook weakened
The recent pullback in the market attracted more attention as the token moved away from recent highs. The data showed that this movement was not just short-term volatility, but pointed to a broader structural change in the charts.
Crypto analyst Alpha Crypto Signal, who shared his evaluation on June 23, 2026, stated that the Hyperliquid price broke the descending triangle formation downwards. Hyperliquid is known as the native token of a platform focused on decentralized derivative transactions. According to the analyst, this breakout came after the price repeatedly failed to regain higher levels, indicating that sellers were in control in the short term.
Mini glossary: A descending triangle is a technical formation in which the price forms lower highs against a near-horizontal support line. This structure is viewed as a signal that selling pressure is getting stronger when support is broken.
According to the evaluation shared by Alpha Crypto Signal, the Hyperliquid price broke the descending triangle formation downwards and the failure of attempts to reclaim higher levels highlighted the sellers in the short-term outlook.
From a technical perspective, it is stated that this structure may maintain a weak outlook as long as the price remains below the broken support level. It is evaluated that the region, which previously served as a base, may now work as resistance, and therefore possible reaction increases may be met with sales.
Decrease in leverage, increase in volume
Derivative market data also supported the picture accompanying the retreat. Open position size decreased by 2.78% to $5.29 billion. This data shows that leverage in the market is weakening in both directions.
In contrast, transaction volume increased by 18.29% to $10.10 billion. This indicated that trading activity remained strong, although there was a decrease in risk appetite. The data suggest that spot-focused participation may have come to the fore instead of more aggressive leveraged transactions.
| Indicator | latest situation |
|---|---|
| HYPE price | $63.32 |
| 24 hour change | -7.25% |
| Transaction volume | $10.10 billion |
| open position | $5.29 billion |
| OI weighted funding rate | -0.0041% |
A cautious outlook also stood out on the funding rate side. The open position weighted funding rate is -0.0041%. Although this ratio shows that there is some pressure on long positions, it indicates that the market has not yet reached an extremely unstable point.
Unless the broken support level is re-crossed, the area that previously served as a base is expected to act as resistance and the short-term downward trend will be maintained.
Overall, HYPE continues to trade lower after breaking below critical support. It is considered that if the buyers do not regain control in this breakdown zone, the pressure may continue to remain downward in the short term.
