Hyperliquid’s HYPE surged to a new record high just under $65, then immediately ran into selling pressure, according to the Crypto Potato report. The article says the token has since pulled back to around $57.
That sequence matters. A fresh high can attract momentum buyers, but it also gives existing holders a chance to sell into strength. In this case, Crypto Potato points to sellers returning right after the record print, turning a push higher into a correction.
Why it matters
Crypto Potato frames this move as more than random noise. It notes that HYPE has been one of the best-performing assets of 2026, with a quick 3x move since January. When an asset extends that fast, pullbacks are common even when the broader trend stays firm.
The immediate risk is simple. The report identifies $52 as a key support level. If that level fails, the uptrend story breaks. If it holds, the article suggests the pullback could stay shallow and the broader trend could remain intact.
Market impact
Crypto Potato leans on two timeframes:
- Short to medium term, it says the price may enter a correction.
- Higher timeframes, it calls the outlook bullish.
It also cites “recent HYPE ETFs” as adding buy volume that was not present in the past. The desk reads that as structural support. Even if traders cool off after a spike, incremental demand from ETF flows can change how deep a correction goes.
At the same time, the report warns that the selloff aligns with overheating signals. Crypto Potato says the 3-day RSI hit above 77, a level it notes has not appeared since May 2025. RSI above 70 is treated as overbought, where Crypto Potato argues emotional buying can dominate.
What to watch next
Two levels show up repeatedly: $63 as resistance and $52 as support. Crypto Potato’s framing is that $52 is the line the uptrend needs.
If HYPE keeps slipping and $52 holds, the market likely treats the move as a reset after overextension. If $52 breaks, traders will probably recalibrate support expectations.
The next checkpoint is momentum. Crypto Potato says the RSI jump into “danger zone” conditions helped signal overheating. Watch whether RSI cools without prices losing the $52 area.
Key levels and signals (per Crypto Potato)
| Item | Level | What it means in the report |
|---|---|---|
| Current price (at time of post) | ~$57 | Pullback after record high |
| Key support | $52 | Needed to keep the uptrend intact |
| Key resistance | $63 | Prior ceiling before pullback |
| Record high referenced | just under $65 | Triggered seller return |
| 3-day RSI reading | >77 | Overbought, last seen since May 2025 |
Crypto Potato’s bottom line is conditional. The pullback looks consistent with an overbought cooldown, but the trend hinges on whether $52 holds.
Why it could cool, not collapse
A big part of Crypto Potato’s argument is that fundamentals and access have improved. It points to “strongest in crypto” fundamentals and adds that “recent HYPE ETFs” have brought buy volume not seen before.
That combination is why the report expects the correction to be potentially shallow, if the support level holds. But it does not remove risk. Assets can still break support, especially after a surge and an RSI spike like the one Crypto Potato cites from TradingView.