Three wallets, likely belonging to the same whale, deposited 494,310 HYPE, worth $37.83 million, into Coinbase. Since reaching $95 in early October, Hyperliquid has remained in a descending channel, touched a low of $74 and fallen 4% over the past week to around $76. Exchange netflow has stayed negative for seven consecutive days, at approximately -$3.4 million, indicating that more funds have left exchanges. Technical indicators remain unfavorable, with the RSI falling to 35, the -DI rising to 26 as the +DI declined to 11, and the ADX reaching 28. HYPE is testing $75 support and could fall below $70, while a daily close above $80 would be needed to invalidate the bearish setup.
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