The crypto market is facing significant renewed selling pressure, resulting in $655 million in total liquidations over the last 24 hours. This downturn is attributed to escalating trade tensions between the US and China, which pushed Bitcoin below $113,000 and put pressure on altcoins.
Leading the losses among top decliners are Hyperliquid (HYPE), SPX6900 (SPX), and Artificial Superintelligence Alliance (FET), all of which risk further declines as bearish momentum increases.
Hyperliquid (HYPE) Pullback Risks Drop Below $30
The Decentralized Exchange (DEX) token, HYPE, extended Tuesday’s losses and is now down over 1% on Wednesday.
- Bearish Outlook: The decline threatens to push the price below the 200-day Exponential Moving Average (EMA) at $38.28. If HYPE closes daily below the immediate support at the S1 Pivot Point ($36.77), the decline could extend to the center Pivot Point level at $28.36.
- Technical Indicators: The MACD is bearish in negative territory, and the RSI is at 39, suggesting there is still significant room for further correction before the token becomes oversold.
- Reversal Point: For a bullish recovery, HYPE must surpass the 50-day EMA at $45.66.
SPX6900 (SPX) Bears Target $1 Psychological Support
The meme coin SPX6900 is ticking lower, building on a 10% decline from the previous day, and risks erasing its Sunday gains.
- Bearish Outlook: Continued selling could breach the critical $1.00 psychological level, with the next target being the $0.90 support (May 31 low).
- Technical Indicators: The MACD is diverging to the downside, and the RSI at 46 maintains a neutral-to-bearish stance below the halfway mark.
- Reversal Point: To recover, SPX would need to rally back toward the $1.65 peak seen on October 6.
Artificial Superintelligence Alliance (FET) at Multi-Year Low
The AI token FET recorded its lowest daily close in nearly two years on Tuesday and is currently trading just above $0.3000.
- Bearish Outlook: The next major support for FET lies at the S4 Pivot Point level at $0.2270.
- Technical Indicators: Selling pressure is extremely high, as the MACD is in free fall, and the RSI at 21 is moving sideways deep in the oversold zone.
- Oversold Potential: While oversold conditions typically suggest a bounce is possible as sellers become exhausted, any recovery would face immediate opposition at the former support levels, starting with the S3 Pivot Point at $0.3310 and then $0.4350.
October 2025, Cryptoniteuae