Hyperliquid needs to prove itself.

HYPE just lost its mid-range support and is now tapping a major high-volume node on the VPVR. This zone is historically where buyers stepped in, but structure hasn’t confirmed a reversal yet.

🔻 Momentum: Multiple overbought rejections on the oscillator + MACD still crossing down.
🔻 Trend: Breakdown from the rising channel + failure to hold EMAs.
🟧 Current Zone: Price is sitting inside a heavy demand block, but weakness persists.

🟩 Bull Case:
Watch for a clean market structure shift (higher low + higher high) before calling the bottom. Without confirmation, this can easily drift lower into the next liquidity pocket.

🟥 Bear Case:
A rejection at this level sends HYPE into the deeper value area below. There’s not much volume support until the lower yellow band.

📌 Summary:
This is a high-interest zone, but not a high-confidence one yet.
Wait for structure. Let the reversal prove itself.