Hyperliquid Price Crashes, but Analysts Call $42 a Golden Buy Zone
Hyperliquid (HYPE) has seen a sharp decline in recent days, falling nearly 10% over the last 24 hours to trade around $41 at the time of writing.
The drop comes as selling pressure pushes the token closer to a key support zone highlighted by analysts.
According to market watcher Ali Martinez, $42 represents a “golden buy-the-dip zone” for HYPE, suggesting the asset could stage a rebound toward $55 if support holds. His chart analysis indicates the token remains within an ascending channel, with the current pullback testing mid-range support levels.
Technical indicators also highlight the oversold conditions. The Relative Strength Index (RSI) has dropped to 34, near the lower boundary that often signals potential for a relief bounce.
Meanwhile, price action shows a steady decline from the early September highs above $60, with $41-42 now emerging as a critical battleground for bulls.
Whether HYPE can defend this support zone will likely determine its short-term trajectory. A bounce from current levels could confirm Martinez’s outlook of a recovery toward $55. However, failure to hold the line risks opening the door to deeper losses toward the $37-38 range.
With trading volumes climbing and market sentiment mixed, all eyes are on whether Hyperliquid can convert this pullback into a new launchpad for its next upward move.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
