HYPE’s price has been under pressure since hitting $76.80 in June, extending its decline and looking at the 200-day EMA at $50.23. In an already testing sign of investor confidence, another break below the $54.37 support could accelerate the short-term correction.
However, under selling pressure, the fundamental issue is not as one-sided as the charts suggest. The chain’s recent actions show why the sentiment has become cautious.
Whales Continue to Increase Sales Speed
According to Lookonchain, the wallet linked to Selini Capital was placed 495,473 HYPE, worth about $26.8 million, to OKX within an hour. The large exchange rate that occurs is often interpreted as a sales activity, and this reinforces concerns that institutional holders are reducing exposure.
Combined with the steady decline since June, this move has strengthened the current bearish momentum surrounding the HYPE price.
Grayscale Looks Beyond Market Weakness
Not everyone is looking at the brand through the same lens. Grayscale they argued that HYPE trades at a multiple of about 15x to 18x, adding that Hyperliquid makes real money and therefore can be evaluated using earnings per token instead of any profit.
Based on that plan, To open a general overview they believe the stock still looks cheap compared to fintech companies like Coinbase (COIN), Robinhood (HOOD), and Circle (CRCL).
From a perspective, It’s a reminder that market value and valuation do not always go hand in hand.
Technology Sectors Become the Next Battleground
Meanwhile, the technical image remains important. If it is The price of HYPE shares down by $54.37, interest shifts to the 200-day EMA near $50.23. However, if buyers protect this area, the recent declines in June and July may match the return to the bottom cycle.
In this case, a positive reversal could open the way back to the previous $76.80 level. If that To open a general overview resistance is reversed, the $100 level becomes a long-term target. Until then, the bulls have to prove they can stop the company’s sales.
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