Hyperliquid Price Don Reach Resistance for $40 Amid Downtrend
Hyperliquid price don climb back from $36 support low but e jam resistance for the key $40 level and e still dey under di 21-day and 50-day simple moving averages (SMA). After e hit $50 for late July, the altcoin start to dey go down as the moving average lines dey fall and bearish SMA crossover show for the 4-hour chart. If Hyperliquid price fit pass di $40–$50 barrier, e fit try test resistance for $50 again and fit turn back to an uptrend. But if e no fit hold above $36 support level, e fit make HYPE fall go $31 near di next big support area. Traders go dey watch if buyers fit break the barrier for the 21-day and 50-day SMA because if e make strong move below $36, e fit mean more downfall. Key resistance dey for $40 and $50, while main support dey for $36 and $31.
Bearish
Di rejection wey happen for Hyperliquid price for 21 and 50 days SMA show say sellers never gree make price rise again after e reach $50 for July. The downtrend wey the SMA crossover confirm for the 4-hour chart match wetin happen before, like for June wey price try break through the moving averages but e fail, make e fall reach important support levels. If HYPE break below $36 support, momentum traders fit rush sell, fit make price drop reach $31. But if price fit break above both SMAs, e fit make buyers come enter cause dem go believe say trend fit turn, e fit push price back to $50 resistance. So, technical indicators and past price reactions dey talk say short-term outlook dey bearish, and only if trend clear pass the moving averages, na im go make long-term bullish adjustment possible.