Hyperliquid price forms bearish double top, will it crash back to $35?
The neckline of the pattern currently sits near the $35.2 support zone, which also aligns with a major horizontal support area that buyers defended aggressively during the April consolidation phase. A look at the MACD indicator reinforces the weakening momentum outlook. The MACD histogram has turned negative again, while the MACD line has crossed below the signal line, confirming a bearish crossover and suggesting that downside pressure may continue building in the short term. Meanwhile, the Aroon indicator also points to fading bullish momentum. The Aroon Up indicator has declined toward the 50% level while the Aroon Down remains subdued near 7%, signaling that buyers are gradually losing control of the trend even though broader bearish dominance has not yet fully emerged. If sellers manage to push HYPE below the neckline support near $35, the bearish double top setup could trigger a larger correction toward the $31–$32 region. On the upside, bulls would likely need to reclaim the $44 resistance area to invalidate the bearish structure and restore momentum toward the psychological $50 level.