Three Factors Influencing Hyperliquid's Current Market Value

Hyperliquid (HYPE) found substantial support at $32, but sellers continue to be active. After a 33% correction, HYPE touched support at $32, sparking a relief rally with buyers now trying to solidify $37 as a key support level. However, if sellers successfully halt HYPE at $37, it could signal the continuation of a downtrend. In such a case, the best strategy for buyers would be to defend $32 support and aim for a higher low, paving way for a potential major reversal.

The daily MACD histogram indicates a return of buyers, but it's premature to confirm a price reversal. The MACD moving averages remain bearish, and the histogram is negative, suggesting more time is needed for the price to find a bottom under these conditions.