Hyperliquid (HYPE) has entered a correction phase after a strong bull run. Market attention is focusing on the price range around $90 as the key level that will determine its short-term direction.

Crypto market analyst Navid Ahmad recently reviewed HYPE's recent price action via the CoinMarketCap community. According to him, HYPE began its rally from around $89.9, formed a short-term peak near $95.99, and has since pulled back somewhat. He assessed that the short-term upward momentum has weakened compared to before.

■ Structure Through Moving Averages and RSI: Short-Term Weakness, Medium- to Long-Term Uptrend Intact

In Navid's analysis, the HYPE price has fallen below the 7-day moving average (MA7). However, it is still trading above the 30-day moving average (MA30) and maintains a considerable distance from the 200-day moving average (MA200), suggesting it is too early to judge that the medium- to long-term price structure has turned bearish.

The relative strength index (RSI) was presented at approximately 44.5. This is interpreted as meaning that the RSI, which had risen during the previous uptrend, has fallen significantly, largely easing overbought pressure and approaching neutral territory.

■ Key Price Ranges: Three Support Levels, Three Upside Targets

The price ranges Navid presented also draw attention. He identified $91.50–$92.20 as the first zone for considering long-term staged entry. If the price falls further, $89.80–$90.50 is the next zone, and below that, $87.80–$88.80. Conversely, he noted that below $86.80 is a price level where the existing uptrend structure would need to be reassessed.

On the upside, he sees $95.50 as the first target zone, followed by $98 and $102 in sequence. However, these price levels are based on Navid's personal technical analysis and do not mean that actual support levels or target prices have been confirmed.

■ Key Points to Watch: $90 Support and a Reapproach to the $95.50–$95.99 Range

Whether HYPE recovers the $95 range or faces further correction around $90 may depend on trading volume and the overall direction of the crypto market. The core of the current analysis is that short-term momentum weakness and a medium- to long-term uptrend structure are appearing simultaneously. While the break below the MA7 is a short-term burden, Navid judges that the uptrend structure is still intact based on the MA30 and MA200 trends.

Going forward, whether HYPE can hold the support area around $90 and reapproach the $95.50–$95.99 range is expected to be the key point to watch in determining its short-term direction.

[Technical analysis and target prices are the analyst's views and may differ from actual price movements. This is not investment advice regarding any specific cryptocurrency, and the final judgment and responsibility for investments rest with the investor. This article was written based on public materials, with some assistance from AI during the writing process.]