Hyperliquid (HYPE) whale trading activity has intensified, with two major wallets investing over $4.2 million, indicating that whales remain confident despite the overall downtrend. Nevertheless, the price of HYPE continues to decline within a downward channel, encountering resistance around $35.48. The MACD indicator shows a bearish trend, and the RSI is at 34.. Open interest has decreased by 4.44% to $1.47 billion, reflecting cautious trading behavior, while the long-short ratio is slightly bearish, with shorts accounting for 52.24%. Recently, long positions were closed worth $4.49 million, highlighting ongoing downward pressure and weak short-term market sentiment, despite whale buying activity.