You cant really explain hlog... or any of the graphs come to that.
Interpreting line stats from graphs is something that comes over time and experience. Ive been 'reading' line stats for about 10yrs now and sometimes you just have to go on gut instinct and you get 'a feel' for the line.
No-one really likes saying it should be this or it should be that. Because then you
will get someone else come along and think they see a similar pattern on their own graph.. and then that person goes into panic mode thinking there is something wrong with their line, when in all reality it is within normal & acceptable line parameters for their line.
hlog and QLN are relative newcomers into the the world of graphing, and even those of us who have been reading line stats for years are still learning. The main thing about hlog is that it should be reasonably smooth.
The fact that yours doesnt go down as far as some other graphs is because your line is short and you have excellent attenuation.
As (copper) line get longer then the more the hlog figures will go down. Its not unusual to see lines begin to drop quite rapidly when you get into the higher frequencies. For example my own hlog drops very rapidly after tone 3800 - you'll see that tail end curve on quite a lot of lines.