Hyperliquid (HYPE) token prices slipped below $85 on November 3, 2026, nearing the $82 support zone. Selling pressure intensified after HYPE lost the critical support level of $85.19 and dropped below its nine-day daily moving average at $84.80.
This reversal comes just days after the market enthusiastically welcomed a major announcement from Wall Street. On October 29, 2026, Intercontinental Exchange (ICE) - parent company of the New York Stock Exchange (NYSE) - announced a partnership with Trade[XYZ] to build a perpetual futures exchange on Hyperliquid infrastructure. The announcement initially sparked a rally of more than 17% in HYPE, reaching around $93.74 before momentum shifted.
Quick Revision from NYSE Parent
Buying momentum cooled when ICE removed the platform’s initial promotional materials. The financial firm issued a revised statement emphasizing that the Trade[XYZ] exchange has not yet secured approval from US regulators. ICE also highlighted the obligation to comply with strict anti-money laundering (AML) and know-your-customer (KYC) identity verification standards.
To date, the ICE and Trade[XYZ] partnership has neither an official launch date nor confirmation on the first derivative contracts to be traded. Without regulatory clarity and firm product details, the positive sentiment from the initial announcement has faded.
180,000-Token Supply Influx Looms on November 6
Market headwinds are further compounded by an upcoming internal token release. On November 6, 2026, roughly 180,000 HYPE held by the Hyperliquid team - valued at $15.72 million - are scheduled to enter market circulation.
Last month, in October 2026, Hyperliquid Labs completed the unstaking of 3.75 million HYPE for private institutional transactions estimated at nearly $330 million. That history of large-scale private transactions has left market participants paying closer attention to any new supply additions.
Risks on the 12-Hour Chart Pattern
Trading data shows a mixed picture in the derivatives market. CoinGlass records show HYPE futures trading volume rose 38.76% to $2.64 billion. Conversely, open interest - the total value of outstanding unsettled contracts - fell 3.50% to $3.66 billion, pointing to position unwinding by traders.
From a technical standpoint, analyst Ali Charts detected a head-and-shoulders pattern on HYPE’s 12-hour chart. Ali warned of a potential correction of up to 22% toward the $62 to $59 area if the neckline in the $76-$78 range is broken to the downside.
For market participants, the $76-$78 zone stands as the next decisive line in the sand: whether it can hold against selling pressure or open the door to a deeper downturn.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
