Hyperliquid retests $40 again – Should buyers be cautious of another pullback?

In response to Onchain Lens on X, a Hyperliquid [HYPE] whale bought HYPE holdings value $2.07 million The whale held 100K HYPE, however doubtless opted to promote following HYPE’s short-term rejection from $43.1.

Although this rejection briefly compelled HYPE beneath $40, the altcoin nonetheless has a bullish long-term bias. The Hyperliquid DEX has remained a preferred change, regardless that its day by day buying and selling quantity and new person stats have slowed down for the reason that market downturn in October 2025.

AMBCrypto just lately reported that the hike in perp quantity on the platform over the previous two months indicated extra capital flows to the change, and extra buying and selling exercise would affect costs.

Furthermore, HYPE has maintained its uptrend for the higher a part of 2026 thus far. Its weekly construction has been bullish and unbroken. Will the present run lengthen greater, or has HYPE’s momentum begun to decelerate?

Anatomy of HYPE’s retracement and the attainable bullish weak point

On the time of writing, the 1-day construction gave the impression to be bullish. The newest construction break in favor of the consumers got here on Monday, 13 April, when HYPE broke the earlier swing excessive at $43.76.

Nonetheless, this break didn’t see an prolonged uptrend. As an alternative, the DEX altcoin stopped at $45.77, simply 4.58% above the earlier excessive, earlier than retracing to $38.89.

Due to this fact, the construction was bullish, however the momentum slowed down close to the highest. The $40-level was examined as help for the second time in per week.

Merchants’ name to motion – Stay cautious

The weak momentum previous $43.7 earlier in April, mixed with the current rejection from $43, indicated the potential for a deeper pullback. The golden pocket between $36.87-$38.77 stays the best shopping for zone, based mostly on the 1-day worth construction.

Merchants can await a transfer to $36.87 earlier than coming into the market. This bullish setup could be invalidated by a worth drop beneath $34.45, which might introduce a bearish construction shift.

Ultimate Abstract

• The uptick in buy-side strain from leveraged merchants on the DEX platform has boosted buying and selling quantity and HYPE token worth.
• The uptrend is undamaged, however there’s motive to anticipate a deeper retracement in the direction of $36 earlier than the subsequent leg greater.