--- title: "Is HYPE entering a bear market after a 10% weekly decline?" type: "News" locale: "en" url: "https://longbridge.com/en/news/286385904.md" description: "The cryptocurrency market has turned bearish, with HYPE, the native coin of Hyperliquid DEX, experiencing a 10% decline over the past week. Currently trading at $38, HYPE has dropped below key support levels, reflecting mixed sentiment among investors. The long-to-short ratio indicates bearish sentiment, while positive funding rates suggest some bullish outlook. HYPE's price may face further declines towards $37.88 if the bearish trend continues, with potential support at $36.09. Conversely, a recovery above $40.11 could target $42.25, but broader market conditions remain unfavorable." datetime: "2026-05-14T08:47:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286385904.md) - [en](https://longbridge.com/en/news/286385904.md) - [zh-HK](https://longbridge.com/zh-HK/news/286385904.md) --- # Is HYPE entering a bear market after a 10% weekly decline? The cryptocurrency market has flipped bearish as long traders recorded massive losses over the past 24 hours. Bitcoin has dropped below $80,000 once again, while Ethereum failed to defend the $2,300 resistance level. HYPE, the native coin of the Hyperliquid DEX, is down by 3.6%, making it the second-worst performer among the top 10 cryptocurrencies by market cap. It is currently trading at $38 after closing below the rising trendline earlier this week. Mixed signals from the derivatives markets put a lid on HYPE’s recovery. If the bearish trend persists, HYPE could likely aim for the support level around $37 in the near term. **Mixed sentiment keeps HYPE bearish** HYPE has been underperforming over the past few days, losing 10% of its value in the last seven days. The bearish performance comes amid mixed sentiment from retail investors. Data obtained from CoinGlass shows mixed signals, keeping the bulls cautious. The long-to-short ratio for HYPE reads 0.70 on Thursday, the lowest level over a month. This ratio, being below one, reflects bearish sentiment in the market, as more traders are betting on the asset’s price to fall. However, the funding rates support a positive sentiment among traders. CoinGlass’ OI-Weighted Funding Rate data for HYPE flipped positive on Wednesday and reads 0.0078% on Thursday. This metric being positive indicates that longs are paying shorts, projecting a bullish sentiment. The combination of these two derivative metrics suggests indecision among HYPE investors and a lack of clear directional bias. This could keep HYPE low, affecting its chances of a sustained recovery. **Hyperliquid price forecast** Similar to other leading cryptocurrencies, the 4-hour chart is bearish thanks to its recent poor performance. HYPE’s price broke and closed below the rising trendline earlier this week, losing 7% of its value in the last two days. At the time of writing on Thursday, HYPE is extending the correction, trading below $39. If the bearish trend continues, the bears could push the price below the 200-day Exponential Moving Average (EMA) at $37.88. A daily candle close below the 200-day EMA would pave the way for a deeper correction towards the $36.09 support level in the near term. Currently, Hyperliquid’s momentum indicators suggest a bearish outlook. The Relative Strength Index (RSI) on the 4-hour chart reads 33, approaching the oversold region. Meanwhile, Moving Average Convergence Divergence (MACD) indicators on the same chart showed a bearish crossover on Monday, projecting a negative outlook. However, if the bulls regain control of the market, HYPE could extend its recovery toward the 50-day EMA at $40.11. COINBASE:HYPEUSD 4H Chart" class="wp-image-740269"/\> A daily candle close above this level would allow the bulls to target the recent 4-hour swing high at $42.25. However, the broader market conditions remain bearish, which could affect recovery for HYPE and other leading cryptocurrencies in the near term. ### Related Stocks - [THYP.US](https://longbridge.com/en/quote/THYP.US.md) - [COIN.US](https://longbridge.com/en/quote/COIN.US.md) ## Related News & Research - [Bitwise Hyperliquid ETF to start trading on NYSE this Friday](https://longbridge.com/en/news/286469269.md) - [Emera Reports 2026 First Quarter Financial Results | EMA Stock News](https://longbridge.com/en/news/285703588.md) - [Why the TradFi takeover of crypto might not be the death blow analysts expect](https://longbridge.com/en/news/285975419.md) - [Dogecoin reclaims $0.1100: can bulls trigger another rally soon?](https://longbridge.com/en/news/286558043.md) - ['Dogecoin Windows' DogeOS Founder Says DOGE Is Becoming Crypto's 'People's Currency'](https://longbridge.com/en/news/286565481.md)