A painful drop or a renewed rally: what’s next for HYPE?
HYPE, the native cryptocurrency of decentralized exchange Hyperliquid, was among the crypto sensations of this summer, reaching an all-time high price of nearly $60 in mid-September.
However, its valuation has retreated substantially from that peak, and one popular analyst believes the decline could be just beginning.
Big accident on the horizon?
Popular X user Ali Martinez analyzed HYPE’s price performance and argued that its chart could be forming a classic head and shoulders pattern. He said a drop to $36 would confirm that scenario, which in turn could lead to a collapse to a low of $20.
hyperliquid $hype It could be forming a head and shoulders pattern. If confirmed, it projects a move to $20. pic.twitter.com/3lKhj8ppqt
—Ali (@ali_charts) November 3, 2025
At the time of writing, HYPE is trading at approximately $41, meaning such a drop would represent a 50% drop. Another renowned market watcher who is quite bearish on the asset is Altcoin Sherpa. User said to their over 250,000 followers that HYPE’s performance looks “bad” and revealed that they are trimming their position after seeing the latest downtrend.
“It seems like a mistake, a slow and efficient sale. I’m not sure what is happening, but I will wait for more clarity,” they stated on the social media platform.
Bullish predictions
Many other analysts see the current price level as an ideal buying opportunity. X user Ahmed saying will start accumulating HYPE tokens again, while Crypto Tony fiance do the same if the price drops to $38.40.
Corgil is also optimistic, claiming that the cryptocurrency is just “one announcement away” from hitting a new all-time high ahead of the main token unlocking in November. Many industry participants I have warned that hundreds of millions of dollars in HYPE will be launched towards the end of the month, which could increase supply and have a negative impact on the price.
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“Everyone with an inch of brain knows that the Hyperliquid team will either reblock or come up with something else that will challenge the ‘typical’ crypto project playbook,” Corgil assumed.
Meanwhile, a mysterious cryptocurrency trader who normally bets large sums and recently has a 100% win rate. open a 10x long position in HYPE, leading to speculation that they may know something we don’t.
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