Cryptocurrency Market Liquidation Wave Approaching: XMR, HYPE, MORPHO Technicals Under Pressure

TokenSherpa · 2026-01-21T02:40:10+00:00

Recently, the crypto market has been impacted by over $1 billion in concentrated liquidations, causing major cryptocurrencies to drop significantly in price. Monero (XMR) fell by over 20%, and Hyperliquid (HYPE) and Morpho (MORPHO) were also affected. The market adjustment was mainly triggered by large-scale liquidations, and the subsequent trend will depend on technical factors and the performance of key support levels.

TokenSherpa

2026-01-21 02:40:10

Abstract generation in progress

[Crypto World] The liquidation wave has shaken the crypto market. This over $1 billion concentrated liquidation directly pushed down the prices of several popular coins.

Monero (XMR) faces the greatest pressure, with a single-day drop of over 20%. It is now hovering around $500, with investors watching the 50-day moving average at $484—if that breaks, it will need to find support further down. Hyperliquid (HYPE) also didn’t perform well on Tuesday, falling 11%, and is now relying on the $21 support line to hold. Morpho (MORPHO) has fallen for six consecutive days, with a total decline of 20%. Although it rebounded 2% on Wednesday, the 20-day moving average at $1.26 remains in place, limiting the rebound potential.

The logic behind this market adjustment is clear—large liquidation dumps. At this point, it still depends on how the technicals develop; whether key support levels can hold will determine the subsequent trend.

HYPE-4,04%

MORPHO-0,32%

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PretendingToReadDocs

· 4h ago

Once it breaks 484, get ready to buy the dip. This wave of XMR is quite fierce.

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GasFeeTherapist

· 12h ago

It's the same old big players dumping the market trick, XMR really got hit hard this time. MORPHO has been falling for six days straight, are you still waiting for a rebound? I think it's unlikely. If $21 can't hold, HYPE will have to find a new home. This liquidation wave feels like it’s not over. With this momentum, $484 won't hold either. If it breaks, just accept defeat. A billion dollars in liquidations coming down, retail investors' blood is truly wasted. At times like this, forget technical analysis, big players call the shots. XMR's decline is so fierce, short sellers are having a blast. Support levels don't matter; what's important is who will cut losses in the next wave. I've been tired of MORPHO for a long time; this coin really can't be pushed up. When the liquidation wave hits, no one can stay unscathed; everyone will have to fall along.

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MoonBoi42

· 12h ago

Wow, XMR was directly halved, if the 484 line breaks, it's over. The liquidation wave is truly relentless; throwing down a billion, no one can withstand it. HYPE and MORPHO are going down together; this technical situation is really ugly. If the support can't hold, it can only go lower; gamblers should pray.

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ForkInTheRoad

· 12h ago

XMR breaking 484 would be completely over; the current position is really uncertain.

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DAOplomacy

· 12h ago

arguably the liquidation cascade reveals some rather non-trivial externalities in our current market microstructure... historical precedent suggests these cascades tend to expose poor stakeholder alignment, but tbh the real question is whether these support levels hold or if we're looking at deeper path dependency issues here

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