Hyperliquid price prediction: Could HYPE fall to $60 after losing $85?

Hyperliquid (HYPE) price has fallen below $85 on November 3, as technical selling, uncertainty surrounding a proposed U.S. trading platform and an upcoming token distribution have weighed on the cryptocurrency. Summary Hyperliquid (HYPE) fell 2.37% to $83.53 on November 3, with trading volume reaching $1.10 billion. HYPE slipped below the $85.19 technical level as traders assessed the proposed ICE partnership and its regulatory requirements. A reported distribution of 180,000 HYPE tokens on November 6 has raised concerns about additional selling. CoinGlass data showed futures open interest declining 3.50% to $3.66 billion, despite higher trading volume. Analysts are watching support between $80 and $82. According to crypto.news market data, HYPE traded at around $84 at the time of reporting, down 2.37% over 24 hours. The token traded between $82.54 and $86.86, with daily volume reaching $1.10 billion. Despite the decline, HYPE remained 7.55% higher over seven days. Its monthly performance stood at negative 7.19%, following a rally that previously carried the token toward $90. Hyperliquid price loses $85 support Technical weakness has become an immediate concern after HYPE fell belo...