HYPE 8H – Bouncing Off Rising Trendline After Lower High DeclineHyperliquid / TetherKUCOIN:HYPEUSDTBKVIPHyperliquid is trading around 77.489 on the 8H timeframe after a wick near 74.50 tagged the ascending trendline and reversed, lifting price back above the horizontal support near 76.00 following a steady decline from the September high near 97.50. The structure here began with a gradual climb off the August 2 low near 51.20, with the rising trendline holding through every pullback in early August. HYPE then broke out sharply in mid August, ripping from the 58.50 area through 82.00 and into a range between roughly 76.00 and 89.00 through early September. The September 16 dip to 76.00 held, launching a second breakout leg that carried price to the high near 97.50 on September 22, followed by a lower high near 95.00 on October 6. The decline since has been persistent, with price printing lower highs near 88.00 and 82.50 before dropping into the trendline on October 24. Price is currently recovering at 77.489 after that wick, with the horizontal level near 76.00 and the trendline now lining up as a combined support zone. Key Levels To Watch: → 97.50 September 22 high, breakout extension top → 95.00 October 6 lower high, major resistance → 88.00 October 12 lower high, first major level to reclaim → 82.50 October 20 swing high, near term resistance → 77.489 Current price, recovering off trendline → 76.00 Horizontal support, September 16 low → 74.50 October 24 wick low, trendline bounce → 58.50 Mid August breakout base, deeper support → 51.20 Trendline origin, August 2 low A bounce from this confluence and a reclaim of 82.50 would keep the structure intact and set up a test of 88.00, with a break above it opening the path back toward 95.00 and the 97.50 September high. Losing the trendline and the 74.50 wick low would be the first real break of structure since early August, exposing the 58.50 breakout base as the next major support with a deeper retracement if that fails. Hold the trendline and HYPE builds toward another push at the highs. Lose 74.50 and this pullback extends toward lower support. Bias stays neutral to cautiously bullish given the trendline and horizontal support are holding together, but the series of lower highs means 88.00 needs to be reclaimed to confirm the next leg higher.