Hyperliquid (HYPE) briefly dropped below $30 before recovering. While the price has returned above the level, the move raised concerns about near-term weakness.
Wallet activity, upcoming token unlocks, and technical signals continue to shape the outlook.
Breakdown Below $30 Raises Short-Term Risk
According to analyst Ali Martinez, HYPE slipped under $30 during recent trading, breaking below a level that had held for several sessions. The move was short, and the price has since rebounded, but it marked the first clear breach of this range since November. The brief drop is viewed as a sign of weakening sentiment and added uncertainty around near-term direction.
Hyperliquid $HYPE is breaking through a key support level, opening the door to $24. pic.twitter.com/oudlphRKuV
— Ali (@ali_charts) December 7, 2025
Ali noted that this move could “open the door to $24.” A step-by-step drop is visible on the projection, with lower support levels identified at $26 and $24. In a separate upda
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