Hyperliquid price prediction – THESE shorting opportunities could yield 16% gains!
Key Takeaways
HYPE dropped by 16%, with technicals suggesting that an prolonged pullback might provide extra shorting alternatives.
Hyperliquid [HYPE] has been providing juicy swing buying and selling alternatives inside its $36-$50 worth vary in Q3. In actual fact, on the time of writing, quick sellers have been up 16% after a worth rejection on the range-high of $50 in mid-August.
Nonetheless, the bears might pocket additional 16% good points if HYPE’s pullback extends to the vary lows at $36. There could also be nuances for bears and long-term spot patrons looking for a reduced window although.
Supertrend flashes agency ‘promote’
Supply: HYPE/USDT, TradingView
On the 4-hour chart, the RSI and OBV bolstered weak spot and market edge for bears. Moreover, the worth dropped under the mid-range of $42 and any extra day by day candlestick closes under the extent might additional verify quick sellers’ edge.
If that’s the case, additional retracement to $36 might provide one other shorting alternative. Particularly if Fed chair Jerome Powell’s place throughout Friday’s Jackson Gap Symposium leans hawkish.
The 30-day liquidation heatmap additionally supported the aforementioned situation.
On the decrease facet of the worth motion, pockets of liquidity and worth magnets existed at $40 and $37.3. On the upside, the magnetic zones have been at $45 and $50.
Supply: CoinGlass
As such, a liquidity sweep for the decrease magnetic zones might reinforce the shorting bias. Nevertheless, a powerful reclaim of the mid-range would possibly invalidate the quick thesis.
HYPE is undervalued?
That mentioned, for long-term patrons, HYPE could also be presently undervalued based mostly on the SWPE (provide weighted revenue to earnings ratio).
The indicator gauges HYPE’s market cap to its protocol earnings. Nevertheless, the earnings additionally drive the HYPE buyback program. Therefore, decrease values might allude to robust demand and undervaluation.
Supply: Skewga
On the time of writing, SWPE had a studying of three.19 – An indication that HYPE’s worth was nonetheless undervalued for long-term spot patrons.
To place it merely, HYPE seemed to be flashing combined indicators. From a basic perspective, it could be an amazing shopping for alternative. Nevertheless, on the worth chart technical facet, the altcoin’s sustained keep under the mid-range would possibly provide additional shorting good points for short-term merchants.
Disclaimer: The knowledge offered doesn’t represent monetary, funding, buying and selling, or different sorts of recommendation and is solely the author’s opinion
