$HYPE Short-Term Pressure, But Fundamentals Intact

HYPE’s current dip reflects a confluence of profit-taking after a strong rally, Bitcoin-driven market volatility, and technical resistance.

However, underlying fundamentals remain solid: Hyperliquid continues to generate record trading fees, and HYPE is gaining institutional credibility through custodial support from Anchorage.

Key Watch Levels:

Support: $46.24 (23.6% Fib) — must hold to prevent further downside.Resistance: $49.75 — previous ATH, now a key hurdle.

Market Catalyst: Bitcoin’s ability to stabilize above $120K will be critical in determining whether altcoins like HYPE can regain momentum.