Hyperliquid's HYPE Token Experiences Significant Price Correction

The price of Hyperliquid's HYPE token has taken a significant hit, dropping by almost 10% in recent days. This decline comes after the token reached a record high, sparking interest from investors.

According to analysts, the pullback is not unexpected, given the strong fundamentals of the cryptocurrency. The technical indicators suggest that the correction may be shallow if support levels hold.

One key signal that HYPE was getting overheated and overextended was the 3-day RSI reaching a level of over 77 points, a level not seen since May 2025. This indicates that the price may have entered an emotional buying phase, which could be a top.