As reported by Biji.com, Hyperliquid (HYPE) has continued to trade within a descending channel, hitting a low of $22 after failing to break above $50 a month ago. At the time of writing, HYPE is trading at $23.2, up 1.24% on the day but down 17.7% for the week. A major whale has suffered a $22.5 million floating loss on a 5x long position, with liquidation set at $13.68. Despite increased market participation, the bearish pressure has overwhelmed long positions, with over $70 million in longs liquidated between December 18 and 19. The RSI is in oversold territory at 29, and the price remains below key short-term moving averages, indicating strong downward momentum.
Hyperliquid HYPE Price Falls to $22 as Whale Suffers $22.5M Loss
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Summary
Hyperliquid (HYPE) price movement hit $22, down 17.7% weekly after failing to break $50 a month ago. The token is currently at $23.2, up 1.24% on the day. A whale lost $22.5M on a 5x long position, with liquidation at $13.68. Over $70M in longs was wiped out between December 18 and 19. RSI at 29 shows oversold conditions, but price analysis indicates downward momentum remains strong as HYPE stays below key moving averages.
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