Hyperliquid (HYPE) Risks a 30% Price Crash: What Can Prevent the Collapse?

Here's why HYPE can plunge below $60. The cryptocurrency market was hit hard by the recent $6.3 billion Binance hack, yet Hyperliquid’s native token defied the broader pullback and posted a nearly 10% gain over the past week. However, one popular analyst warned that the asset could soon nosedive by double digits, while a key factor supports the bearish scenario. Drop Below $60 Incoming? As of press time, HYPE is changing hands just below $85, down from the local peak of about $96 recorded before the Binance incident. Nonetheless, it remains firmly in the green on both the weekly and fortnightly timeframes. According to Ali Martinez, though, the asset is forming a potential head-and-shoulders top on the 12-hour chart, pointing to a possible 22% correction. He went even further, suggesting that a sustained close below the $76-$78 neckline could be followed by a crash toward a 10-week low of $59. The analyst believes a recovery above the right shoulder’s high of the structure, at near $90, would weaken the bearish setup. “The pattern isn’t confirmed until Hyperliquid breaks support. A bounce from $76–$78 could keep the formation from playing out,” he added. FOUR | Crypto Spaces also p...