Technical Analysis

On March 8, Hyperliquid's HYPE token traded around $30–31, with daily technicals showing price near the upper Bollinger Band and an RSI near 47, indicating neutral momentum. Key supports sit around $29, $27 and $25, while resistance is clustered near $31.5, $33.14 and the recent $36.77 high. At the same time, weekend oil-linked futures on Hyperliquid reportedly climbed about 5% toward $94 per barrel, adding to expectations of higher platform fee flows and continued token buybacks.

Solana's price dropped from above $90 and moved below $88, $85 and $82, reaching a low near $80.29. SOL is now trading under $85 and the 100-hour simple moving average, with resistance seen around $85, $87.20 and $88.80. If buyers can hold the $82 and $80 support zones, the price could attempt a recovery toward $95 or even $102.

XRP extended its decline below $1.3650 and $1.3550 and is now trading under $1.3620 and the 100-hour Simple Moving Average while it consolidates recent losses. The price faces immediate resistance at $1.3520 and $1.3800, with stronger barriers at $1.3980 and $1.4250 that could cap any recovery. On the downside, support is seen around $1.3365 and $1.3220, and a break below these zones could open the way toward $1.3120 and potentially $1.30.

Driven by a near-total blockade of the Strait of Hormuz, global energy markets have entered a historic "war premium" rally as WTI and Brent decisively clear the $100 and $110 thresholds for the first time since 2022. This 2026 supply squeeze, which has sidelined 20% of global oil, is fueling extreme volatility and a massive surge in decentralized hedging on platforms like Hyperliquid. While the Trump administration weighs a Strategic Petroleum Reserve (SPR) release to inject liquidity and fill price gaps near $90, technical indicators remain parabolic with price targets eyeing $130. Investors are now pivoting to upcoming US CPI data and EIA reports to determine if the current vertical momentum will face a mean reversion or continue its record-breaking ascent.

Between 5 and 6 March, Chainlink's LINK logged capital inflows while major assets like Bitcoin, Ethereum, XRP, and Solana saw outflows. The token also ranked third in development activity over the past 30 days, and its price is consolidating in an ascending triangle with resistance at $9.17 and support near $8.30. Technical indicators such as RSI and MACD show bearish pressure easing, but a confirmed breakout above $9.17 has yet to emerge. A failure to hold $8.30 could undermine this bullish structure despite the strong on-chain and development backdrop.

Ethereum has moved into a bearish phase after losing the $2,020 level and sliding below $2,000, with the price now trading under the 100-hourly Simple Moving Average. ETH recently dipped to $1,912 and is struggling to reclaim resistance near $1,980–$2,020, while key support at $1,920 and $1,880 could be tested if sellers remain in control.

Bitcoin recently dropped below $68,500 and $68,000 after failing to sustain strength above $69,500, and it is now trading under the 100-hour simple moving average. The price has tested the $65,500 area, with nearby resistance seen around $67,000–$67,600 and further downside risk toward $63,500 and $62,000 if $65,500 and $65,000 fail to hold.

Ethereum co-founder Jeffrey Wilcke moved 79,176 ETH, valued at about $157 million, to Kraken, raising concerns about additional supply on exchanges. At the same time, ETH is trading inside a descending channel, hovering above the $1,800 support area with resistance zones overhead and rising leverage across derivatives markets. Persistent exchange outflows and a strong long bias among top Binance traders contrast with founder-linked flows and sizable short bets, leaving Ethereum in a fragile positioning environment.

Bitcoin analyst Willy Woo expects the BTC price to recover toward resistance around $80k–$85k after what he describes as an unusually rapid sell-off. He argues that such a rebound would not confirm a long-term market bottom but could instead form a bull trap within a broader bear-range consolidation, while also highlighting quantum computing as a growing risk to Bitcoin's long-term performance and its 12-year trend versus Gold.

On Saturday, March 7, Alphractal founder and CEO Joao Wedson highlighted $63,700 as a vital on-chain support level for Bitcoin, using a Fibonacci-adjusted Market Mean Price model. He warned that a drop below this zone could open a path to $57,000, $52,400, or even $48,700, implying nearly a 30% slide from the current price. Bitcoin is trading around $67,330, roughly 50% under its all-time high of about $126,080.