Smart money injects more liquidity into HYPE but the bulls struggle to maintain steady upside.
HYPE sentiment shifts further into bearish expectations after recording the largest long liquidations in 6 months.
Why robust utility on Hyperliquid has been propping up HYPE price.
Hyperliquid has recently been making 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 native coin 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
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