Hyperliquid (HYPE) has experienced a significant 18% drop over the past week, now testing crucial support levels around $43.59. The token is currently forming an ascending broadening wedge pattern on the daily chart. If buyers manage to defend the lower boundary, a rebound towards $56–58 is possible. However, a breakdown below the $43–44 range could lead to a further decline, potentially pushing HYPE down to $28–26.