Hyperliquid’s native token HYPE has recently been in the spotlight after a highly publicized billionaire airdrop. The token surged to a new all-time high on December 21 but has since entered a correction phase, much like other altcoins in the market. In the last 24 hours, HYPE’s price has dropped by 17%, bringing its market cap down to around $9 billion. From a technical perspective, the resistance level at $28.95 is key for HYPE’s price trajectory. A breakout above this level could lead to further bullish momentum, potentially pushing the token towards $35 and $40. On the other hand, a failure to hold the support at $22 could deepen the correction, bringing the price down to $14.99.
Render (RENDER), the leading artificial intelligence token by market cap, has experienced a sharp correction after reaching a peak of nearly $4.5 billion last week. The token’s market cap is now at $3.7 billion, marking a 20% decline over the past seven days. As the AI narrative continues to gain traction, RENDER’s price action is currently in a strong downtrend, indicated by a death cross formation on December 19. RENDER is currently trading near a crucial support level of $6.37, with resistance around $7.78. A successful breakout above this resistance could lead to a rally towards $9.71, while a failure to sustain the support at $6.37 could result in further declines towards $5.26 and $4.73.
Solana (SOL) saw a significant pullback after reaching an all-time high of $264 on November 22, with its price dropping by nearly 30% over the past 30 days. Despite this correction, the Solana ecosystem remains active, with applications like Raydium and Pumpfun continuing to attract users and generate significant fees. Additionally, Solana altcoins such as PENGU, BONK, and WIF are gaining attention. Looking ahead, SOL’s price action depends on key levels of support and resistance. The next critical support is at $178, and if this level fails, SOL could see further declines towards $158 and $147. On the other hand, a breakout above the resistance at $195 could signal a potential reversal and the start of a new uptrend, with targets at $203 and $221.
In conclusion, Hyperliquid’s HYPE, RENDER, and Solana (SOL) are all facing critical technical levels that could determine their future price movements. HYPE’s price trajectory hinges on breaking above the $28.95 resistance level while maintaining the $22 support level. RENDER’s price action is currently in a downtrend, with a crucial support level at $6.37 and resistance at $7.78. SOL experienced a significant pullback but its ecosystem remains active, with support at $178 and resistance at $195. As investors navigate through these uncertain times, keeping an eye on these key levels could provide valuable insights into the potential reversals or continued corrections in the days ahead.
