The Hyperliquid (HYPE) cryptocurrency has been performing well, bringing in substantial revenue of $42.53 million in fees over the past month. Despite this positive financial performance, indicators such as RSI and BBTrend are showing signs of weakening momentum.

HYPE faced resistance at $19.26 and struggled to break through it, leading to pressure on its short-term trend. Currently, the price is at a crucial juncture where it could either drop below support levels or initiate a rally towards $25.

The Relative Strength Index (RSI) for Hyperliquid has taken a significant dip to 42 from 60.93, indicating a decrease in recent bullish momentum and a more cautious approach by traders. The RSI, which ranges from 0 to 100, suggests that HYPE is currently in a neutral zone leaning towards weakness.

Additionally, the BBTrend indicator for HYPE has dropped sharply to 2.63 from 12.68, indicating a loss of bullish momentum and potential entry into a consolidation phase or a deeper correction.

The price analysis indicates that if the bearish trend continues, HYPE could potentially fall below $16 or even further. On the other hand, bullish momentum may lead to a breakout above $19.26, paving the way for a rally towards $25.87, representing a significant milestone for HYPE.