From Coinpedia · By Sahana Vibhute
Story HighlightsHyperliquid price faces selling pressure after a reported $8.17 million whale transfer, with $80 emerging as a critical short-term support level.
A breakdown below $80 could expose lower liquidation zones, while a recovery above $85.51 may strengthen bullish momentum toward higher resistance.
The Hyperliquid (HYPE) price is facing renewed selling pressure, with the token trading near $81.36 in the latest chart snapshot after retreating from recent highs. The pullback comes as traders monitor a major holder’s $8.17 million HYPE transfer to Kraken and a concentration of leveraged positions around key price levels. With the market approaching a crucial juncture, could further whale profit-taking deepen the correction, or will buyers step in?
Millions of HYPE Transfer Raises Profit-Taking Concerns
A major HYPE holder has transferred another 100,276 HYPE, worth approximately $8.17 million, to a Kraken deposit address, according to the on-chain data provided. The transaction follows earlier transfers from the same wallet, bringing renewed attention to potential selling pressure as HYPE trades near $81.
The Lookonchain data suggests the wallet reportedly accumulated 257,928 HYPE at an average price of around $3.50 nearly two years ago. The transfers to the centralised exchanges do not necessarily mean it will lead to strong selling pressure, but they do indicate preparation for a potential sale. However, further exchange deposits, actual sell transactions, and HYPE price reaction around the support level could clarify the impact on market sentiment.
Leveraged Positions Highlight Risk Around $80
HYPE’s liquidation map points to several areas where leveraged positions could amplify the next price action. With the current price marked near $81.36, the chart shows notable liquidation clusters below the market around $79.66 to $80.29 and above it between $82.99 and $85.51. If the HYPE price fails below the $80 area, liquidations of leveraged long positions could add to selling pressure and accelerate the decline.
On the upside, a sustained move above $82.99 could expose short positions to liquidation, potentially adding buying pressure as bearish traders are forced to close their positions. Therefore, the immediate focus is whether HYPE can defend the $80 area to build enough momentum to reach the upper liquidation cluster.
Can HYPE Price Defend $80 Support as Selling Pressure Builds?
HYPE is approaching a critical short-term price level near $80 as traders assess the impact of whale transfers and leveraged positioning. The latest chart snapshot places the token around $81.36, leaving it close to the psychological $80 threshold. A sustained hold above this area could help stabilise the price, while a decisive breakdown may expose HYPE to further downside.