Ultra-Liquid Stock Price Forecast: HYPE Stock Faces Critical Test as Bulls Seek to Hold the 200-Day Exponential Moving Average:

Hyperliquid (HYPE) stock is trading under pressure, testing support near $64.00 at the time of this report on Tuesday. This decline comes after a limited rise near $68.00 the previous day, weakening short-term technical outlook.
High liquidity declined amid deteriorating sentiment.
HYPE's short-term bearish trend aligns with the continued weak sentiment in the cryptocurrency market overall, as evidenced by the Fear and Greed Index which reached 15 points on Tuesday, only slightly up from 12 points the previous day. This translates to weak appetite for high-risk assets, limiting gains and recovery potential.
Cryptocurrency Fear and Greed Index | Source: Alternative
This situation reflects the prevailing pessimism in the broader cryptocurrency market, where the Hyperliquid DeFi ecosystem saw its Total Value Locked (TVL) decline to $5.74 billion as of Monday, down from $6.12 billion on June 18.
TVL represents the total value of assets deposited within the protocol's smart contracts by network participants looking to earn rewards on their HYPE holdings.
The ongoing decline in Total Value Locked (TVL) indicates waning investor confidence, prompting participants to reduce their investments. In contrast, a steady rise in Total Value Locked signals renewed optimism, as investors show a greater willingness to allocate their capital to the protocol's smart contracts.
Hyperliquid DeFi TVL | Source: DefiLlama
Meanwhile, demand in the retail sector is increasing, leading to a steady rise in open interest for Hyperliquid perpetual futures. CoinGlass data shows open interest rising to $2.7 billion on Tuesday, compared to $2.4 billion the previous day. If this demand continues, demand for HYPE derivatives may absorb selling pressure in the spot market and help stabilize the rebound above $70.00.
$HYPE ‌