Hyperliquid’s HYPE token is under pressure, down 9.1% in a week and nearly 20% over the past 30 days. Whales have started unstacking their HYPE and depositing tokens on centralized exchanges. A major long liquidation zone sits at $52.38, and a drop below this level could trigger a cascade of forced selling amplifying short-term sell pressure. The two-month range formation with a low at $53.3 has been breached, suggesting a potential deep retracement to the $32-$42 zone.
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