Hyperliquid recently made headlines mostly because of its performance and heavy adoption by some of the top whales in crypto.
Its native coin HYPE has also been receiving a lot of attention especially with its latest price performance.
The Hyperliquid (HYPE) has been on a steady rally since early April. HYPE price soared to a new historic high just above $44 on Wednesday after an impressive 365% gain from its lowest YTD levels.
However, the bulls appeared to be losing their momentum since then. This observation was also characterized by a bearish signal in the form of a price-RSI divergence.
HYPE price action: TradingView
While the price-RSI divergence signaled higher potential for a sizable pullback, recent data revealed that accumulation by whales and institutions has been sustaining the upside.
This was also evident in the MFI indicator which revealed a surge in liquidity inflows in the last 5 days.
Is Sentiment Shifting to Negative Territory?
HYPE price has been sh
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