Hyperliquid HYPE Price Prediction: Risks of a 17% Drop

As of October 8, 2026, the HYPE token of Hyperliquid is facing potential bearish trends following a recent rally. The price is currently at $85.19, reflecting a 4.34% decrease. Analysts predict a possible correction of up to 17%, targeting a price drop to around $72.

Key Technical Indicators

• The token has recently surpassed a bullish target of $90, reaching above $95 in late September.
• Current price action indicates a loss of momentum, suggesting a deeper correction is likely.
• A daily broadening wedge pattern indicates potential downside movement towards the 50-day EMA at $83.75, followed by support levels at $75–$76.

Daily Chart Analysis

The daily chart reveals an ascending broadening wedge, characterized by a rising upper resistance trendline and a slightly descending lower support trendline. HYPE's recent price action has slipped below its 20-day EMA, indicating weakening short-term momentum. The relative strength index (RSI) has also fallen below 50, reinforcing the bearish outlook.

Weekly Chart Insights

The weekly chart supports the bearish scenario, showing a smaller rising wedge formation near recent highs. Immediate support is identified around $75–$78, with a breakdown below this structure potentially pushing HYPE towards its 20-week EMA at approximately $72.45, which represents a 17% decline from current levels.

Market Sentiment and Future Outlook

Despite the bearish indicators, the rising 20-week EMA has historically supported HYPE's broader recovery. A retest of this level could attract buyers, but a weekly close below $72.45 would weaken this outlook and expose further downside risks towards the 50-week EMA at $58.38. Conversely, a sustained recovery above $95–$100 would invalidate the immediate bearish setup.

Conclusion

In summary, the HYPE token is currently at a critical juncture, with technical indicators suggesting a potential decline. Investors should monitor key support levels and market sentiment closely to navigate the upcoming price movements effectively.