Hyperliquid (HYPE) is relatively stable.
Despite the overall market downturn, Hyperliquid has remained relatively stable; the asset has risen by approximately 7%, and the gains may expand further sooner than expected.
Trading volume has also increased, leading the market to believe that a continuation of the rebound is possible. The article states that the main reason is that the asset was already oversold prior to the previous market downturn. Additionally, this sharp decline was less related to altcoins and DeFi, and more driven by risk-off behavior triggered by selling in the AI sector.
HYPE is currently trading at $73.99, having rebounded from a low of $69.83 earlier. The intraday low approached the 200-day exponential moving average (black line on the chart), which coincides with the $68 level.
The RSI, as a momentum indicator, is rebounding from the 40 range, suggesting that if the current selling pressure is primarily driven by speculative factors, the bearish pressure may be temporary.
The article states that Hyperliquid lost its upward momentum by the end of September, and the rally in early November formed a lower high. The first resistance level is the orange moving average near $78; a breakout above this level could serve as a foundation for price recovery.
Stellar (XLM) rebounds at $0.15
Stellar followed a path similar to Hyperliquid, quickly rebounding near $0.15; however, low trading volume makes it difficult to generate accelerated upward momentum and strengthen bullish potential. Overall market performance remains weak, lacking sustained momentum.
XLM is currently trading at $0.1497, after previously dropping to $0.1411. The article notes that the rebound at this level is no coincidence, as it aligns with the low point from late May.
All moving averages continue to diverge, indicating that the asset lacks the momentum to drive an increase in volatility. Volatility is more likely to rise significantly when moving averages converge.
From a fundamental perspective, mainnet validators will vote on the Bell upgrade (Protocol 30) on November 23. The article states that the Bell update represents a significant fundamental development for XLM, but has little relation to its short-term price performance.
This asset has shown signs of being oversold, so this correction is not surprising. From a momentum perspective, the RSI is near 35, close to a local low.
Bitcoin (BTC) falls below $70,000
The article states that Bitcoin faced nearly $1 billion in liquidation pressure, with almost all of the impact falling on BTC, further amplifying the existing bearish sentiment in the market. The price has already broken below the $70,000 level and may decline further.
According to CoinGlass data, $1.65 billion in positions were liquidated across the entire market over the past 24 hours, with $918.6 million coming from Bitcoin.
BTC is currently trading at $69,552, having earlier dropped to $67,500. So far today, the decline amounts to approximately 2.6%. The article notes that the drop in Bitcoin’s price may deter additional investors, but it remains consistent with the overall trend, and BTC has since rebounded, recovering part of its earlier losses.
If the low of $67,500 is broken, the next target area could be around $65,000, where Bitcoin spent most of July and August.
Source and author: U.Today, Arman Shirinyan
