Hyperliquid's HYPE token is down 22% from its $75 all-time high, bringing its 2026 uptrend to a key test of support. Market participation has cooled across the derivatives markets, while the spot flows show early signs of stabilization after strong selling pressure in early June.
The $50-$54 area now stands out as the most important support zone beneath current prices and the first major trend test since January.
Spot selling begins to ease for HYPE
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