BONK Jumps 60 % in a Week—Will Golden Cross Power a Breakout?

ZORA launched its airdrop today, distributing tokens to early users. The rollout caused confusion, as no official claim site was provided. Users had to check their allocations manually through the smart contract. While the Content Coin narrative boosted coin creation and new users, trading volume dropped sharply from its initial peak.

ZORA’s price fell around 50% in the first two hours after the airdrop. It is now trying to recover, but momentum remains uncertain. The market is still reacting to the airdrop and overall token distribution.

Content Coin Narrative Boosts Zora Usage

The Zora airdrop officially launched today, distributing tokens to early users based on two snapshot periods—but it was met with confusion. Base founder, Jesse Pollak, addresses some of these points in an exclusive interview with BeInCrypto.

Many users were unclear on how to check their eligibility, as no official claim site or checker was provided. Instead, allocations had to be verified manually via the smart contract, leading to mixed reactions across the community.

While 10% of the total 10 billion supply was reserved for early adopters, the decision to allocate 65% of tokens to insiders (team, treasury, and contributors) raised questions about the distribution model.

Since Base chain began promoting the idea of Content Coins, activity on Zora has noticeably increased. The number of newly created coins has remained above 20,000 since April 17, reaching nearly 28,000 yesterday.

Meanwhile, unique creators on the platform grew from 3,683 on April 16 to 6,206 by April 22.

While this growth suggests rising interest, it also reflects a trend still in early development, with questions remaining around long-term sustainability and utility.

Zora Volume Peaked at $31 Million—Now It’s Down Over 70%

Zora’s trading volume in USDC surged sharply with the rise of the Content Coin narrative, hitting $30 million on April 16 and peaking at $31 million on April 17.

This initial spike reflected a strong wave of early interest and speculative momentum around the new use case for content on-chain. a

The increase aligned with Base’s push to promote content coins as a fresh alternative to traditional meme tokens, drawing attention from creators and traders alike.

However, despite the number of coins created continuing to climb, Zora’s volume fell significantly to just $9 million by April 22.

This divergence suggests that while more users are experimenting with the platform—launching and minting coins—actual trading activity has not kept pace.

The drop in volume may indicate fading speculative interest, uncertainty around the airdrop, or early profit-taking following the initial hype.

ZORA Price Dives After Airdrop, Now Eyes Recovery

ZORA’s price experienced a sharp selloff immediately following its airdrop, dropping roughly 50% within the first two hours of launch.

Such volatility is not uncommon for newly airdropped tokens, as early recipients often rush to secure profits, adding intense short-term selling pressure.

Since then, ZORA has shown signs of recovery, attempting to stabilize and build upward momentum. If it can break above the $0.023 level, it could move to test resistance at $0.0289, with a potential extension toward $0.034 if buying strength returns.

However, the recovery remains uncertain. If ZORA fails to hold current levels and bullish momentum fades, it may retest support at $0.019.

A break below that could lead to further downside, with the next key level around $0.0165.

This price action reflects a typical post-airdrop pattern—initial volatility, followed by a battle between early profit-takers and potential long-term holders looking to establish positions.

The post ZORA Price Battles Intense Selling Pressure After Airdrop appeared first on BeInCrypto.

Hyperliquid (HYPE) is under pressure, down 16% over the past seven days as technical indicators increasingly point toward bearish control. Momentum has weakened sharply, with the Relative Strength Index (RSI) dropping below 40 and showing no signs of strong buying interest since late March.

At the same time, the Directional Movement Index (DMI) shows sellers gaining dominance, with a rising ADX suggesting a potential strengthening of the downtrend. As HYPE approaches key support levels, the market now waits to see if bulls can mount a recovery—or if further downside is ahead.

Hyperliquid DMI Shows Sellers Are In Control

According to its Directional Movement Index (DMI), Hyperliquid is showing early signs of a developing trend, with the Average Directional Index (ADX) rising from 21.5 to 23.6.

The ADX measures the strength of a trend regardless of its direction. Readings below 20 typically indicate a weak or range-bound market, while values above 25 suggest the presence of a strong trend.

With the current ADX moving closer to that 25 threshold, it suggests that trend strength is building—but hasn’t fully confirmed yet—indicating that traders should be on alert for potential continuation in price action.

Meanwhile, the +DI and -DI lines, which represent bullish and bearish directional movement, respectively, have shifted significantly.

The +DI has dropped sharply from 25.68 to 12.79, while the -DI has surged from 11.29 to 23.4, indicating that bearish momentum has clearly overtaken bullish pressure. This shift suggests that sellers are gaining control of the market, and unless the +DI line can reverse and regain ground, HYPE could be at risk of further downside.

If the current dynamics continue, this, combined with the rising ADX, could signal the start of a stronger bearish trend.

Hyperliquid RSI Shows The Lack Of Buying Momentum

Hyperliquid has seen its Relative Strength Index (RSI) fall significantly over the past two days, dropping from 63.03 to 39.39.

The RSI is a momentum oscillator that measures the speed and magnitude of recent price changes, ranging from 0 to 100.

Readings above 70 typically indicate that an asset is overbought and may be due for a correction, while readings below 30 suggest it is oversold and could be primed for a rebound. Levels between 30 and 70 are considered neutral, but directional shifts within this range often reflect changing momentum.

With HYPE’s RSI now sitting at 39.39, the indicator suggests weakening bullish momentum and growing bearish pressure. The fact that the RSI hasn’t touched or exceeded the 70 mark since March 24 signals a lack of strong buying conviction in recent weeks.

This downward trend in RSI may indicate that the market is cooling off. Unless buyers step in to reverse this trajectory, HYPE could continue to face selling pressure.

If the RSI continues to drift toward 30, it would raise the possibility of further downside or consolidation in the short term.

Will Hyperliquid Fall Below $11 Soon?

Hyperliquid price is currently at an important threshold, with action leaning bearish but potential for a rebound still on the table.

If the current downtrend continues, HYPE could soon dip below the $11 mark.

This would align with the recent drop in momentum indicators like the RSI and the growing bearish pressure seen in directional movement data.

However, if buyers manage to step in and shift momentum, HYPE could attempt to reclaim higher levels. A break above the immediate resistance at $12.19 would be the first sign of recovery, potentially opening the door for a move toward $14.77.

If bullish momentum accelerates, the rally could extend as far as $17.33, which would mark a full reversal of the current bearish structure.

The post Hyperliquid (HYPE) Slides 16% In One Week And Nears $11 Support appeared first on BeInCrypto.