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HYPE HYPE tokens face market resistance and price support is in doubt
As a native digital asset of the Hyperliquid Decentralized Exchange Agreement, HYPE tokens are under review amid the intertwining of multiple market forces. Due to weak cash inflows from spot ETF funds, the price dynamics of the token have attracted much attention, especially after key technical support levels were tested on July 24, 2026. Market participants are paying close attention to these trends to gain insight into the future trend of tokens.
Where is the technical position of HYPE?
Hyperliquid (HYPE) fell slightly on Friday, closing at US$58.78, down 0.67% from the previous trading day. According to market data, the token's daily trading volume plunged 11.26%, while its valuation fell 3% in the past week.
Market expert Crypto Patel pointed out that current price movements are similar to past institutional models that have led to HYPE prices peaking. While some views view this as a downward trend, Patel speculates that the volatility reflects liquidity hunting rather than a downward shift in the market.
Patel identified a fair value gap of between $47 and $54 and identified these areas as key nodes for market stability. Bullish order blocks in the $38 to $43 range are crucial to maintaining the upward trend, with potential long-term gains as high as $150 under ideal conditions.
If HYPE closes below the 0.618 Fibonacci retracement level (US$34), a bearish signal may appear, which means new downward pressure appears and changes the current positive outlook.
Does the performance of spot ETFs affect market dynamics?
Yes, according to SoSoValue, the performance of ETFs is crucial. The chain analyst reported a net outflow of US$1.02 million on July 23, and the cumulative net inflow fell to US$299.62 million. Although funds flows were flat on July 22, the ETF had previously seen a net outflow, exacerbating investor concerns.
Data shows that the ETF market's enthusiasm for HYPE is cooling down, with net redemptions occurring for several consecutive days, suggesting that investors tend to be cautious.
The net outflow on July 23 was US$1.02 million, and the cumulative net inflow dropped to US$299.62 million.
Net flow remained unchanged on July 22, and funds remained at US$300.64 million.
A net outflow of US$698.04 million on July 21 marked a decline in investor interest.
The net outflow of US$5.45 million on July 17 further highlighted the market's hesitation.
Hyperliquid provides a regulated channel for HYPE exposure through its innovative approach to spot ETFs, which particularly attracts traditional investors, thereby enriching investment options.
Technical indicators show caution. The Relative Strength Index (RSI) is below the neutral level, and the MACD indicator is down. Analysis points out that HYPE's price trend faces continued challenges. The combination of reduced capital inflows, shrinking trading volumes and key support levels puts HYPE in a delicate balance that may determine its market direction in the near term.
