It signals renewed bearish pressure, keeping sellers in control for now. The rejection at this level signals renewed bearish pressure, with sellers maintaining short-term control. It recently bounced from an oversold region, hinting that bearish pressure may be easing. Or will rising liquidations keep driving prices down in the near term? Short liquidations surgeAccording to the recent Coinalyze Liquidations data, Hyperliquid is seeing a surge in short liquidations.