Hyperliquid Drops 10%. Will the $30M Buyback Save HYPE Price?

The merger between Sonnet BioTherapeutics and Rorschach has created a company known as Hyperliquid Strategies, which has declared a stock buyback program worth $30 million to buy back its outstanding shares within a year. The repurchase program will boost HYPE price by exposing them to more HYPE, the native token of the firm. This action comes after the company was recently registered to raise up to 1 billion dollars as a shelf to finance its treasury of HYPE tokens.

Is Hyperliquid’s 10% Drop Just the Beginning?

The price of Hyperliquid has decreased in the last 24 hours by almost 10% as the HYPE price has fallen to $27.45 today, compared to the high of $30.94 of the previous day. The level of support is currently at the present low of $27.45, with resistance at $28.50. The price is still in a downward trend, and despite indications of probable price consolidation, the general trend is still downward. There is no sign of a price turnaround till the top of the downward channel is crossed.

What Happened on the HYPE Chart Over the Last 24 Hours?

To have a bigger picture of the market and get a bit of a background, it is worth looking at what occurred on the HYPE chart within the past 24 hours. On December 8th, 2025, Hyperliquid started in a tight trading range, and after an oversold state in the RSI chart and a Golden Cross in the MACD chart. This mix resulted in HYPE price rise, which was the highest of the day at $30.94. Nevertheless, once HYPE price reached this peak, it collapsed to the bottom of the upward channel. The RSI indicated an overbought situation, and a weakening of the bullish momentum was indicated by a fall in the MACD. This resulted in a short-term consolidation process.

The Price Action: From Peak to Decline

Another decrease in the MACD at the price of $29.10 was a sign of the change of momentum and the beginning of the decrease in the price. Although a Golden Cross was observed on the MACD, indicating a possible recovery, the entire downward trend persisted. This was followed by a new low of the price of $28.65, where RSI was showing another over-sold position, and MACD was suggesting a potential price reversal. This gave a temporary boost to the price to a high of $29.87. The rally, however, did not last long as the MACD indicated another negative trend, which indicated that the pressure was going down even more.

Current Market Conditions: A Golden Cross with Bearish Sentiment

As of December 9th, 2025, HYPE price is still falling in a downward direction with a low of $27.45. Although the RSI and MACD gave several oversold signals, the price continued to follow a bearish trend. The chart has shown a new Golden Cross, which means that the price might recover in the short term. Nonetheless, the general tone is bearish, and unless the upper limit of the downward channel is violated, the price can still follow the downward trend.

What’s Next for HYPE Price? Key Levels to Watch!

At this point, HYPE has support at $27.45 and resistance at $28.50. The most probable is the sustenance of the current downtrend, with HYPE price staying within the downward channel. But when either of these important levels, support or resistance, is broken, we may have a price continuation in the direction of the breakout.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.