Hyperliquid Forms Macro Lower High | $22 Support at RiskHYPERLIQUID/USD TETHER PERPETUAL SWAP CONTRACTBLOFIN:HYPEUSDT.PThe_Alchemist_Trader_Hyperliquid price action remains corrective as the macro structure continues to print lower highs, confirming sustained bearish pressure. The recent rally into the $35 resistance zone—aligned with VWAP and the Value Area High—resulted in a clear rejection, reinforcing seller dominance. Key Highlights: - Consecutive macro lower highs confirm bearish trend - Rejection at $35 confluence resistance (VWAP + Value Area High) - $22–$21 support becomes next key downside target Following the rejection, price rotated back toward the Point of Control (POC) but failed to reclaim it on a closing basis. Losing the POC signals acceptance at lower prices and often precedes further downside continuation. As long as Hyperliquid trades below both resistance and the POC, the path of least resistance remains lower. The next major liquidity zone sits around $22–$21, where a reaction could occur. A strong bounce from this region may trigger a short-term reversal attempt, but a breakdown would confirm continuation of the macro bearish structure and establish a new lower low. Despite strong platform growth and rising trading activity, technical structure currently favors downside rotation unless resistance is reclaimed.