Hyperliquid's HYPE token is facing competing forecasts from prominent analysts as weakening momentum raises the risk of a deeper correction. HYPE is the native token of Hyperliquid, a decentralized exchange for perpetual futures. Technical analyst Ali Charts has identified a potential 22% decline toward $59, while Michael van de Poppe maintains an upside target of 112–116. The gap between the two forecasts — one implying a steep drawdown, the other a continuation of the recovery — underscores how contested the token's short-term outlook is. HYPE traded at $83.76, with technical indicators continuing to show selling pressure after the token's late-October recovery.

Ali Charts Flags 76–78 as Critical Support

According to Ali Charts on X, HYPE is forming a potential head-and-shoulders top on its 12-hour chart. The pattern could expose the token to a 22% correction if key support gives way.

The analyst identified the 76–78 range as the neckline requiring confirmation. A sustained 12-hour close below this region would confirm the bearish setup, with the first downside target standing at $62, followed by $59.

In formations of this kind, the neckline acts as the confirmation line, which is why Ali Charts tied his scenario to a sustained 12-hour close rather than a single intraday move. Ali Charts also outlined conditions that would weaken the formation: a recovery above the right shoulder's high, or a bounce from the neckline, could prevent the pattern from fully developing.

Van de Poppe Maintains $116 Price Target

Michael van de Poppe holds a more constructive view, expecting HYPE to reach above $100 in the near future. He compared the token's recent price movements with August's recovery pattern.

According to van de Poppe, HYPE swept its recent low before bouncing sharply and breaking previous highs. He expects another rally to follow once the current consolidation concludes. He identified the 80–84 range as a potential buying region during a correction, with his next upside targets standing at 112–116.

His reading frames the same recent swing as a constructive structure — effectively the opposite interpretation of the topping pattern Ali Charts sees on the same chart.

Indicators Show Continued Selling Pressure

HYPE recently traded at $83.76, gaining 0.64% after opening at $83.214, with an intraday high of $84.013. The broader decline from approximately $95 in early October, however, remains visible. The token approached $76 around October 25 before recovering above $94 on October 29. Trading volume increased sharply during that rebound, but sellers subsequently pushed prices lower.

Momentum readings remain bearish. The RSI is at 41.05, below its 48.25 moving average, while the MACD line sits at -0.536, under its 0.191 signal line, and its histogram remains negative at -0.727.

Immediate support lies between $82 and $83, followed by $80 and $76. On the upside, resistance is positioned at 85–88 and then 92–94. A sustained recovery above $88 would improve the bullish outlook.

Those levels map the analyst disagreement in practical terms: a sustained 12-hour close below the 76–78 neckline would validate the bearish scenario, while a firm recovery above $88 — and eventually the 92–94 zone — would strengthen the constructive case. Until either condition confirms, HYPE's near-term direction remains contested between clearly defined support and resistance.

Source: Cryptofrontnews