Ali Martinez Warns HYPE Could Sink to $53 if $75 Support Fails

HYPE and the $75 Line

If HYPE loses the $75 level, the next readings on the chart would be $64 and, if selling continues, $53. That is the scenario analyst Ali Martinez laid out in a post on X published on Monday, in which he declared the altcoin season over and named Hyperliquid (HYPE), Ondo and Quant (QNT) as the three tokens most at risk. The call landed into a market already moving the same way. Bitcoin dropped below $74,000 to open the new week, with a run of significant US economic data still to be released, and the losses spread well beyond it: Ethereum fell 5% over 24 hours to around $2,120, XRP slid 6.5% to $1.08, and Solana gave up 3.2% to trade near $86. Drops of that size across large caps fed concerns that further declines could follow, and Martinez's post was built on that reading: the altcoin market, in his view, carries more downside risk.

On HYPE, the token at the center of the Hyperliquid ecosystem, his argument was structural rather than dramatic. The token has traded inside a horizontal range for roughly two months, and he sees a genuine chance of a slip below it. The mechanics are the standard ones for a range that fails, because there is little accumulated demand between a broken range floor and the next shelf where buyers previously stepped in, and moves through levels this well watched often accelerate as margin trading positions built on the range holding are forced out of the market. Below $75, his first target sits at $64. If sellers keep control after that, he places the second at $53. He attached no timeline, and the post sketched no path in which the range holds, but the levels are explicit: reclaim $75, or treat $64 and $53 as the working map.

ONDO Channel and QNT Triangle

ONDO and QNT sit at earlier stages of the same breakdown logic, each with a different pattern attached. On Ondo, Martinez pointed to an upward-sloping channel that has contained price since the start of the year. The token is already showing signs of slipping beneath the lower edge of that channel, and in his reading, weakness that persists below $0.35 would confirm the support break. Once that line gives way, he sees room for a slide to $0.26, and if the selling does not stop there, $0.19. A channel that has held all year carries weight for anyone positioning against it, because the level has been tested repeatedly without breaking.

Quant (QNT) has not yet crossed its decisive level, which makes it the least advanced of the three calls. Price has compressed inside a symmetric triangle, a formation in which successive highs drift lower and successive lows drift higher until the range runs out of room and price has to pick a direction. Triangles of that kind give no direction on their own; they only state that a resolution is close, which is why Martinez tied his call to a candle close rather than a touch. The trigger he named is specific: a four-hour candle closing below $190 would be his confirmation of a bearish breakout. If that prints, the next downside target on his map is $160.

He closed the post by pulling the three charts into a single conclusion. All three tokens, he wrote, are testing significant support levels, and a failure to defend them could drag the wider altcoin market lower. The HYPE warning did not arrive without precedent on our desk either. Our earlier coverage traced a support test near $70 after a 4.7% drop on heavy volume, a session that already showed sellers pressing the token into well-watched ground.

Read strictly, none of this is a prediction; it is a conditional map, and every condition is stated. The post itself, the primary record behind the piece, ties each target to a level first: $75 for HYPE, $0.35 for ONDO, $190 for QNT. If those levels hold, the bearish targets never activate, and the three tokens stand where they did before the call. That is what survives either way for a reader: three trigger prices rather than a sentiment. Our Hyperliquid technical analysis page keeps those levels under live monitoring, and flows have offered no offset so far, with a weekly ETF outflow of $15.62 million recorded from Bitwise's Hyperliquid fund. Calls like this can also feed FUD around tokens already under pressure, which is why the levels, not the framing, carry the information.