Hyperliquid HYPE falls below $30 to $29 as demand weakens; can $28 hold?

Hyperliquid [HYPE] slipped under $30 and hit $29 after failing to hold $32, posting lower closes for two straight days. It was down 4.9% on the day and 8.9% for the week, sliding beneath the EMA20. Despite the drop, futures activity showed fresh long interest and a long bias across major venues.