HYPE, NEAR, SHIB Face Technical Headwinds as Market Consolidates
In brief
- Hyperliquid retreated from $75–76 toward $58 support following a major rally, signaling weakening momentum
- HYPE holds above $57 100-day EMA despite significant volume decline from earlier buying pressure
- Near builds consolidation base above long-term trend indicators, showing resilience
- Shiba Inu displays weakness with lower highs and lower lows persisting nearly one year
Hyperliquid's Retreat Tests Key Support
HYPE briefly traded close to the $75–76 range before sellers intervened forcefully. The asset now faces a critical test: HYPE is currently trading above its 100-day EMA at $57, which served as dynamic support during the advance.
Daily candles display lower highs since the June peak, RSI has dropped toward 40, and the 20-day EMA has rolled over. Volume has significantly decreased compared to the buying frenzy that accompanied the move from $40 to above $70. These developments suggest the market is no longer in breakout mode.
The 50-day EMA for HYPE is currently at $64.7 and the 200-day EMA is still rising toward $50. If buyers can hold the line at $57–$58, they might attempt another move toward $65 and ultimately $70. Conversely, a clear breakdown below the 100-day EMA would probably result in a deeper retracement toward the 200-day EMA around $50.
Near's Resilience Within Consolidation
NEAR is exhibiting greater resilience than many other altcoins despite being stuck within a wide consolidation range. The protocol has been building a base above its long-term trend indicators for several weeks.
The 200-day EMA for NEAR is near $1.82 and offers structural support, while NEAR is trading directly above the 100-day EMA around $1.87. The support cluster between $1.82 and $1.87 is rather strong.
The upside remains capped. Bulls have failed to recover the 50-day EMA at $2.02, and every attempt at recovery has stalled in the $2.00–$2.10 range over the past month. NEAR has an RSI of about 45, reflecting the current equilibrium.
The sideways price movement observed throughout July is consistent with neither buyers nor sellers having established dominance. That said, NEAR continues to print higher lows on the longer timeframe and has effectively recovered from sub-$1 levels earlier this year. A clear breakout above $2.00 could put NEAR back above all significant short-term moving averages and pave the way for a move to $2.30–$2.50.
Shiba Inu's Persistent Weakness
From a technical standpoint, Shiba Inu is among the weakest large-cap cryptocurrencies. Every significant attempt at recovery has been rejected at important moving averages.
The daily chart displays a consistent pattern of lower highs and lower lows that has persisted for nearly a year. The failed ascending channel that formed between March and May is the chart's most noticeable feature. Sellers intervened close to the 100-day EMA and forced a breakdown below support.
The technical picture offers little encouragement for near-term bulls. Until that pattern breaks, SHIB remains under structural pressure.
