超流动性价格预测：应对抛售压力并寻找机会

尽管网络增长，但价格仍在下滑，Hyperliquid 面临着一个关键时刻。它能承受抛售压力并反弹吗？让我们深入探讨一下起作用的因素。

Hyperliquid Price Prediction: Navigating Selling Pressure and Finding Opportunity

超流动性价格预测：应对抛售压力并寻找机会

Hyperliquid, a decentralized exchange (DEX), is currently facing a fascinating tug-of-war. While on-chain metrics suggest undervaluation and network growth remains consistent, the token's price continues to experience downward pressure. Is this a buying opportunity or a sign of deeper structural issues? Let's delve into the key factors influencing Hyperliquid's price and explore potential future scenarios.

Hyperliquid，一个去中心化交易所（DEX），目前正面临着一场令人着迷的拉锯战。虽然链上指标表明估值被低估且网络增长保持一致，但代币的价格继续承受下行压力。这是买入机会还是更深层次结构性问题的迹象？让我们深入研究影响 Hyperliquid 价格的关键因素并探索未来潜在的场景。

On-Chain Strength vs. Technical Weakness

链上优势与技术弱点

Recent analysis highlights a divergence between Hyperliquid's on-chain fundamentals and its technical chart. Despite rising revenue, exceeding $3.6 million monthly, the token's price has been retracing. This suggests that the market may be undervaluing Hyperliquid's underlying strength. As McKenna points out, the supply-weighted P/E ratio indicates HYPE is more undervalued at $39 than it was at $13. Historically, such mismatches have preceded strong recoveries.

最近的分析凸显了 Hyperliquid 的链上基本面与其技术图表之间的差异。尽管收入不断增长，每月超过 360 万美元，但代币的价格却一直在回落。这表明市场可能低估了 Hyperliquid 的潜在实力。正如 McKenna 指出的那样，供给加权市盈率表明 HYPE 的估值在 39 美元时比 13 美元时更被低估。从历史上看，这种错配先于强劲复苏。

However, technical charts paint a less optimistic picture. Trader Tim's analysis reveals a clear downtrend, with Hyperliquid consistently posting lower highs and lower lows. The price currently hovers around $39, facing strong resistance between $41 and $49, while support zones lie near $36 and $31. A breakout above $49 is crucial to shift the market structure bullish.

然而，技术图表描绘的情况却不太乐观。交易员蒂姆的分析揭示了明显的下降趋势，Hyperliquid 不断创下更低的高点和更低的低点。目前价格徘徊在 39 美元左右，面临 41 至 49 美元之间的强劲阻力，而支撑区域位于 36 至 31 美元附近。突破 49 美元对于市场结构转为看涨至关重要。

Selling Pressure and Market Correction

抛售压力和市场调整

Adding to the complexity, Hyperliquid's broader chart structure indicates correction patterns in line with the broader DEX sector. Trader Koala's visual formation suggests that the token remains within a downward leg, with the next key zone of demand projected around the $22 to $25 range. Short-term relief rallies are likely to be sold into, emphasizing the need for defensive positioning.

更复杂的是，Hyperliquid 更广泛的图表结构表明了与更广泛的 DEX 行业一致的修正模式。交易员 Koala 的视觉形态表明该代币仍处于下行区间，下一个关键需求区域预计在 22 至 25 美元范围内。短期缓解反弹可能会被抛售，强调防御性定位的必要性。

Furthermore, it's worth noting the broader market context. Bitcoin's sluggish performance and selling pressure from long-term holders (LTHs) might be indirectly impacting Hyperliquid. Glassnode data reveals that LTHs have been offloading Bitcoin since the end of June, with whales being the primary distributors. This cautious sentiment in the broader crypto market could be contributing to the selling pressure on Hyperliquid.

此外，值得注意的是更广泛的市场背景。比特币的低迷表现和长期持有者（LTH）的抛售压力可能会间接影响 Hyperliquid。 Glassnode 数据显示，自 6 月底以来，LTH 一直在抛售比特币，其中鲸鱼是主要分销商。更广泛的加密货币市场的这种谨慎情绪可能会加剧 Hyperliquid 的抛售压力。

Potential Rebound and Key Levels to Watch

潜在反弹和值得关注的关键水平

Despite the challenges, there's a glimmer of hope. Nehal's technical outlook frames the ongoing decline as part of a larger accumulation cycle. The Hyperliquid chart suggests a potential rebound towards the mid-range levels between $45 and $50 if the support zone near $30 holds firm. This recovery projection aligns with volume profile data showing dense liquidity clusters near those upper bands.

尽管面临挑战，但仍有一线希望。尼尔的技术前景将持续下跌视为更大积累周期的一部分。 Hyperliquid 图表表明，如果 30 美元附近的支撑区域保持坚挺，则可能反弹至 45 美元至 50 美元之间的中间水平。这一复苏预测与成交量概况数据一致，显示这些上限附近有密集的流动性集群。

The $30 to $32 range now acts as a key defense line, while resistance near $45 to $50 remains the barrier to reclaiming momentum. Consistent revenue growth and stable network activity keep the medium-term structure constructive rather than broken.

30 至 32 美元区间现在是关键防线，而 45 至 50 美元附近的阻力位仍然是恢复势头的障碍。持续的收入增长和稳定的网络活动使中期结构保持建设性而不是破坏。

Whale Activity and Market Sentiment

鲸鱼活动和市场情绪

The activities of prominent whales, like James Wynn and Machi Big Brother, also influence market sentiment. While recent liquidations of these traders might raise concerns, their continued involvement in the Hyperliquid platform suggests a belief in its long-term potential. The platform's aim to re-attract whales after liquidation events can boost the perp DEX, which increased its open interest to $7.7B.

James Wynn 和 Machi Big Brother 等著名鲸鱼的活动也会影响市场情绪。虽然这些交易商最近的清算可能会引起担忧，但他们对 Hyperliquid 平台的持续参与表明了对其长期潜力的信心。该平台的目标是在清算事件后重新吸引鲸鱼，这可以提振持久 DEX，从而将其未平仓合约增加至 $7.7B。

Final Thoughts: A Bumpy Road Ahead, But Potential Remains

最后的想法：前方道路坎坷，但潜力依然存在

Hyperliquid's price prediction is a complex equation with conflicting signals. On-chain strength suggests undervaluation, while technical charts and broader market sentiment indicate continued selling pressure. The platform's next move hinges on whether it can hold key support levels and attract renewed accumulation. The risky nature of perp DEX trading is evident, but Hyperliquid's commitment to recovery and whale activity offer glimmers of optimism.

Hyperliquid 的价格预测是一个带有相互冲突信号的复杂方程。链上强势表明估值被低估，而技术图表和更广泛的市场情绪表明持续的抛售压力。该平台的下一步行动取决于它能否守住关键支撑位并吸引新的吸筹。 Perp DEX 交易的风险本质是显而易见的，但 Hyperliquid 对复苏和鲸鱼活动的承诺带来了一丝乐观的曙光。

So, is Hyperliquid a diamond in the rough or a falling knife? Only time will tell. But one thing's for sure: keeping a close eye on those key support and resistance levels, along with broader market trends, is crucial for anyone navigating this volatile landscape. Happy trading, y'all!

那么，Hyperliquid到底是未加工的钻石还是一把掉落的刀呢？只有时间才能证明一切。但有一点是肯定的：密切关注这些关键支撑位和阻力位以及更广泛的市场趋势，对于任何应对这一动荡格局的人来说至关重要。祝大家交易愉快！