Altcoin Correction Test: HYPE Faces Key Levels While NEAR and SHIB Split Paths

Hyperliquid’s Momentum Engine Sputtering

Hyperliquid has entered its first meaningful pullback following one of the year’s most dramatic rallies. The asset traded briefly near $75–76 before selling pressure drove it back toward the $58 zone, marking a sharp reversal from its upward momentum. While HYPE remains above its 100-day moving average—a level that previously supported the entire advance—the warning signs are mounting. Lower peaks have formed since the June high, the momentum indicator has weakened toward 40, and the 20-day average has turned downward. Trading volume has evaporated compared to the buying surge that propelled the asset from $40 to above $70, suggesting waning conviction among bulls.

The underlying structure still favors higher prices if support holds. The 50-day average sits around $64.7 with the 200-day average still climbing toward $50. Buyers defending the $57–58 zone could attempt a retest of $65 and ultimately $70. However, a break below the 100-day average would likely trigger a deeper retreat toward the 200-day level near $50. HYPE is no longer in breakout mode; instead, the market is testing whether the prior surge was sustainable or merely speculative.

Near Protocol and Dogecoin Show Resilience

Near Protocol stands out for displaying considerably more technical stability than most altcoins in the sector. Rather than correcting sharply like HYPE, NEAR has methodically built a base just above its long-term support structure. The asset sits directly above its 100-day average near $1.87, with strong support clustering between $1.82 and $1.87 from the 200-day average. Though bulls have not yet reclaimed the 50-day level at $2.02—with every rally attempt stalling between $2.00 and $2.10—the current equilibrium at mid-range momentum readings suggests neither buyers nor sellers have seized control. The longer-term picture remains constructive, with NEAR printing higher lows and having recovered dramatically from sub-$1 levels earlier in the year. A decisive break above $2.00 could reignite the uptrend and target $2.30–$2.50, while losing $1.82 would invalidate the accumulation narrative.

Dogecoin displays a similar but somewhat less severe downward pattern. Trading below $0.072 and beneath all major moving averages, DOGE faces overhead resistance from the 20-day average at $0.075, 50-day at $0.078, and 100-day at $0.087. The momentum indicator remains subdued below neutral levels, yet the decline has been more orderly than rival meme coins, suggesting latent support from longer-term holders.

Shiba Inu’s Bearish Grip Tightens

Shiba Inu remains among the weakest large-cap cryptocurrencies on a technical basis. Nearly a year of falling peaks and troughs has worn away confidence, and the failed recovery attempt near the 100-day average exemplifies the asset’s struggle. SHIB trades below all significant moving averages simultaneously—a textbook bearish alignment. While oversold conditions in the momentum indicator and shrinking volume suggest selling pressure may be easing, this does not guarantee renewed demand will emerge. Recovery above $0.0000045 would signal meaningful buyer re-engagement; failure to hold current support around $0.0000042 risks further decline and reinforcement of the long-term downtrend.

Source: U.Today. Not financial advice.