Hyperliquid price weakens as fading bullish volume puts $19 at risk

A Bitcoin miner recently won a prize of $235,000 in Bitcoin while participating in HMining, highlighting the platform's growing influence in the cloud mining sector. This achievement has drawn attention to HMining's operations and its role in the evolving cryptocurrency landscape.

The cryptocurrency market experienced a notable rebound on December 2, with Bitcoin and leading altcoins rising over 1% in the past 24 hours, pushing the total market capitalization close to $3 trillion. This recovery follows a period of volatility and significant price fluctuations in recent weeks.

Zcash's price has experienced a significant decline of 24%, breaking through multiple support levels and its EMA200, prompting analysts to caution about potential further losses. Despite this downturn, the long-term outlook for Zcash remains intact, particularly regarding its privacy features.

Solana's price is currently testing key support levels, showing bullish RSI divergence and steady ETF inflows, indicating potential buyer interest. Analysts note that while the price has stabilized around $143 after a multi-week decline, a breakout above resistance is necessary for a sustained reversal.

Ethereum's price has fallen below the critical support level of $2,900, currently trading at approximately $2,803, reflecting a 0.9% decrease over the past day amid increasing sell pressure from large investors, known as whales. This decline follows a broader market downturn, with Ethereum experiencing a significant 26% drop in November.

Dogecoin whale activity has dropped to a 60-day low, indicating a significant decline in large-holder trades, while the meme coin is testing key support levels for 2024 and trading below its 200-day EMA. This trend suggests a bearish sentiment among major investors in the cryptocurrency market.

The Hyperliquid development team announced the unlocking of 1.75 million tokens, addressing community concerns about potential selling pressure that could impact the token's price. This event follows a significant $314 million unlock that had previously raised alarms regarding market stability.

The Hyperliquid development team announced the unlocking of 1.75 million tokens, addressing community concerns regarding potential selling pressure that could affect the token's price. This event follows a significant $314 million unlock that previously raised similar concerns among investors.