Hyperliquid’s HYPE, following its multi-million dollar airdrop, hit a new all-time high on December 21 before entering a sharp correction. Meanwhile, RENDER, the leading AI-focused token, has seen a sharp drop of 20% over the past week, with its market capitalization falling to $3.7 billion.
Similarly, SOL has faced a major 30% pullback over the past 30 days following its November peak of $264, but its ecosystem remains active with thriving apps like Raydium and Pumpfun. Each of these tokens is now approaching critical technical levels, setting the stage for potential reversals or continued corrections in the coming days.
Hyperliquid (HYPE)
HYPE, Hyperliquid’s native token, has been in the spotlight in recent weeks, following a highly publicized multi-million dollar airdrop. The token reached a new all-time high on December 21, but has since entered a correction phase, following the pattern of other altcoins in the last week.
In the last 24 hours, HYPE’s price has plummeted 17%, reducing its market capitalization to almost $9 billion.
HYPE Price Analysis. Source: TradingView
From a technical perspective, the $28.95 resistance level has significant importance for the price trajectory of HYPE.
A break above this level could reignite bullish momentum, potentially pushing the token towards $35 and even $40 in the near term. On the contrary, if the support at $22 does not hold, the correction could deepen, dragging the price to $14.99.
Render (Render)
RENDER is the leading AI token by market capitalization and is currently showing a sharp correction after reaching a high of almost $4.5 billion last week. With its market capitalization now at $3.7 billion, the token is down almost 20% over the past seven days.
This drop comes amid growing anticipation that the AI narrative will continue to gain traction in 2025, potentially offering an attractive entry point for investors to enter AI altcoins. RENDER price action is currently in a strong downtrend, marked by the formation of a death cross on December 19, showing bearish momentum.
RENDER price analysis. Source: TradingView
Currently, RENDER is trading near a crucial support level of $6.37, with resistance around $7.78. A successful break above this resistance could pave the way for a rally towards $9.71.
However, failure to hold support at $6.37 could exacerbate the decline, with downside targets of $5.26 and $4.73 looming.
Solana (SUN)
SOL experienced a significant pullback after reaching an all-time high of $264 on November 22, and its price fell almost 30% in the last 30 days.
Despite this correction, the Solana ecosystem continues to trend, with apps like Raydium and Pumpfun continuing to generate substantial traction, recording millions of dollars in daily fees and Solana altcoins like PENGU, BONK, and WIF attracting a lot of attention.
SOL price analysis. Source: TradingView
Looking ahead, SOL price action depends on key support and resistance levels. The next critical support is located at $178; If this level fails, SOL could face further declines, potentially testing $158 and $147.
On the contrary, the resistance at $195 is essential for a possible reversal. A break above this level could signal the start of a new uptrend, with targets at $203 and $221.
