🚨 Hyperliquid price confirms a failed auction and $19.70 is now the key downside target
📉 I’m seeing Hyperliquid (HYPE) turn bearish again after it failed to reclaim a major resistance zone, which is now being treated as a classic failed auction setup.
🚫 The key level here is around $27, where price tried to break above, but couldn’t hold acceptance and quickly closed back below, basically confirming buyers had no real follow-through.
🧠 What this means is simple: the market explored higher prices, probably triggering breakout buyers and liquidity, then instantly got rejected because demand wasn’t strong enough to support the move.
📊 Another bearish detail is that price is still trading below the Point of Control, which keeps market structure heavy and suggests sellers are still controlling the “most traded” zone.
⬇️ With this failed auction confirmed, the article says the downside rotation now points toward the $19.70 range low support, which becomes the main target if selling continues.
⚠️ For me, the takeaway is clear: reclaim failed, structure stays bearish, and until HYPE gets back above that key zone, the path of least resistance looks lower.
