Hyperliquid’s HYPE token has been in the spotlight recently after a billionaire airdrop, reaching a new all-time high on December 21. However, it has since entered a correction phase, with the price dropping by 17% in the last 24 hours. The token’s market cap is currently around $9 billion, and it faces critical technical levels at $28.95 resistance and $22 support. A breakout above resistance could push the price towards $35 and $40, while a failure to hold support could lead to a deeper correction down to $14.99.
Render (RENDER), the leading AI-focused token, has seen a sharp 20% decline in the past week, with its market cap falling to $3.7 billion from a peak of $4.5 billion. The token is currently in a strong downtrend, marked by a death cross on December 19. RENDER is trading near a crucial support level of $6.37, with resistance at $7.78. A breakout above resistance could lead to a rally towards $9.71, while failure to hold support may result in further declines towards $5.26 and $4.73.
Solana (SOL) experienced a significant 30% pullback over the past 30 days after reaching an all-time high of $264 on November 22. Despite the correction, the Solana ecosystem remains active, with applications like Raydium and Pumpfun attracting significant traction. SOL’s price action hinges on key levels of support and resistance, with the next critical support at $178 and resistance at $195. A breakout above resistance could signal a new uptrend with targets at $203 and $221, while a failure to hold support could lead to further declines towards $158 and $147.
The current market conditions for these tokens suggest potential reversals or continued corrections in the days ahead, with HYPE, RENDER, and SOL all facing critical technical levels. Investors should be cautious and conduct their research before making any financial decisions. The AI narrative is anticipated to gain traction in 2025, offering potential opportunities for investors to enter AI-focused altcoins. The performance of these tokens will continue to be closely monitored as the market evolves.
