HYPE slips below $40 as $3M whale opens 10x long; $35 support in focus
Hyperliquid’s HYPE has slipped below $40 after failing around $43.7. The token is near $38.5 (-~2.5% on the day) and has printed lower lows for four straight sessions.
A new on-chain signal is the main update: a whale opened a HYPE long worth ~80,000 HYPE (about $3M) with 10x leverage. Whale-style long inflows can precede a reversal, but derivatives positioning is still tilted to the sell side.
Liquidations show more long exits than short liquidations (about $2.2M longs vs ~$282k shorts), and CoinGlass flags a Long/Short Ratio of 0.9508 (below 1). RSI is near 58 with a bearish crossover, while Aroon down has dropped toward 0.0%, keeping momentum cautious. The article highlights $35 as the key downside level if the bearish move continues, while a reclaim of ~$42 would improve the rebound thesis.
For HYPE traders: monitor liquidation/funding and the long/short ratio closely around $40, and especially watch whether price can hold the $35 support zone.
Neutral
The news is mixed for HYPE. On one hand, a ~$3M whale opened a 10x leveraged HYPE long, which can support a rebound if follow-through buying appears. On the other hand, derivatives risk remains elevated: liquidations are dominated by long exits, and the Long/Short Ratio stays below 1 on the cited venue data, while RSI/Aroon signals lean bearish.
Net effect: short-term pressure around and below $40 could persist until HYPE proves demand by reclaiming ~$42. A break below the highlighted $35 support would likely turn the setup bearish. If $35 holds and whale-driven inflows continue, the same catalysts could flip to bullish over the next sessions.