Hyperliquid Price Drops Below Key Support After Triangle Breakdown

The Hyperliquid price has broken below a significant support level after forming a descending triangle pattern on its charts. This technical breakdown suggests that the short-term trend is bearish, and the market is experiencing pressure from sellers.

The token's price has dropped by 7.25% over the last 24 hours to $63.32, with a total market capitalization of around $16.04 billion. The trading volume remains high at $1.56 billion, indicating that market activity is intense despite the decline in Hyperliquid's value.

A crypto analyst pointed out on June 23, 2026, that the price had broken down from a descending triangle pattern after multiple failed attempts to rally to higher levels. This suggests that bulls are unable to hold up support levels, and the market is shifting towards a bearish trend.