Hyperliquid (HYPE) Disappears From Crypto’s Top 20 Club, Another 25% Dump Ahead?

HYPE’s market cap fell below $9 billion earlier today.

Hyperliquid (HYPE) is among the hardest-hit digital assets, with its price falling 18% at one point in the past day. Some analysts believe the storm is not over yet and predict further declines in the near future.

HYPE leaves this elite club

At the time of writing, the decentralized crypto exchange’s native token is trading at around $33, while its market capitalization is around $9 billion. This means that HYPE is no longer among the 20 largest cryptocurrencies. Recall that a few months ago the asset’s capitalization briefly exceeded $16 billion, putting it close to the top 10 clubs.

Renowned analyst Ali Martinez suggested that the problems for the asset may be just beginning. He saw the formation of a “head and shoulders” pattern on the HYPE chart, with the “head” representing the all-time high above the $58 reached in September. According to him, this could be followed by another 25% decline to around $25.

Many other market observers believe a further downturn is on the way. X user Mr B expected HYPE is expected to trade between $20 and $30 early next year, with a drop of that magnitude also predicted before the end of 2025.

Earlier this month, Crypto Chase described the $25-$28 zone as “an area of ​​interest for the long term,” suggesting they would jump on the bandwagon if the price fell to that level.

HYPE is oversold

Contrary to the hostile environment in the crypto sector and pessimism among some analysts, HYPE’s Relative Strength Index (RSI) indicates that valuation is on track for a rally.

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The technical analysis tool measures the speed and magnitude of the latest price movements and ranges from 0 to 100. Values ​​below 30 indicate that HYPE is oversold and could post short-term gains, while values ​​above 70 are considered bearish territory. Currently, the RSI is at 17, which tilts the balance to the bullish side.