Hyperliquid (HYPE) experienced a 60% price surge following a massive airdrop of 310 million tokens. Initially, the price rise led to overbought conditions with the RSI exceeding 70.
The momentum quickly faded, reflecting in the RSI's drop to 44.8, suggesting a neutral or slightly bearish sentiment. Despite the fluctuation in net flows that reached an all-time high, HYPE's price remains under pressure.
Net flows peaked on November 29 at $181 million but have since declined, signaling potential market instability and investor hesitation. This could indicate a deeper bearish trend if momentum continues to weaken.
The price reached a temporary high of $14.99 but has been under downward pressure, showing signs of market uncertainty. Future price movement will depend on whether HYPE can regain bullish momentum or if it will test lower support levels at $11.29 or $10.44.
