Hyperliquid price rally appears to be cooling as a TD Sequential sell signal hints at short-term weakness despite strong on-chain catalysts.
Summary
- Hyperliquid trades at $48.30, down 2.8% in 24 hours.
- TD Sequential indicator warns of a possible short-term pullback.
- HIP-3 upgrade and listings keep long-term outlook bullish.
Hyperliquid was trading around $48.30 at press time, down 2.8% in the past 24 hours. Even with the daily drop, the token is still up 33% over the week and 6.4% in the past month, holding about 20% below its all-time high of $59.3 set on Sept. 18.
Market activity has eased slightly. Hyperliquid’s (HYPE) 24-hour trading volume dropped to $583.2 million, down 8.3% from the previous day. Data from CoinGlass shows derivatives volume rose 0.44% to $2.73 billion, while open interest slipped 0.04% to $1.93 billion.
The mixed reading indicates that after aggressive buying, the market is becoming more balanced as some traders are closing their old positions and others are opening new ones.
Key indicator signals caution
Analyst Ali Martinez noted on an Oct. 28 post on X that the TD Sequential indicator has flashed a sell signal for HYPE. The tool, which is designed to identify trend exhaustion, often signals brief declines following powerful rallies. According to Martinez, the current reading may indicate that HYPE is due for a short pause or a mild correction before it tries to climb higher again.
Despite the cooling pace, the broader picture remains positive. The HIP-3 Mainnet upgrade, which went live on Oct. 13, introduced permissionless perpetual markets, allowing anyone who stakes 500,000 HYPE to create new trading pairs. In less than two weeks, users have locked over 1 million HYPE and driven $180 million in extra daily volume.
More catalysts are on the horizon. Hyperliquid’s USDH stablecoin has been gaining traction, Robinhood EU recently added HYPE to its listings, and Bybit is set to open HYPE/USDT perpetuals on Nov. 8. If these events continue to attract new traders, analysts see potential for a move back toward $55–$60 by mid-November.
Hyperliquid price technical analysis
After touching the upper Bollinger Band, HYPE is currently testing resistance between $47 and $49. While the commodity channel index is slightly bearish, the relative strength index is close to 60, indicating neutral momentum.
Immediate resistance is located between $47.60 and $49.00, while support is located between $39.90 (20-day SMA) and $32.20. Despite short-term exhaustion, all of the major moving averages (10–200-day) are still in buy territory, indicating a solid underlying trend.
Failure to hold $44 puts the market at risk of a pullback to $40, but a sustained close above $50.60 could confirm bullish continuation towards $55.
