9% Surge and HYPE Climbing: Will Hyperliquid Crack the $51 Barrier?
- Hyperliquid has climbed over 9%, trading at $49.
- HYPE’s daily trading volume has surged by 21%.
A modest 2.22% rebound in the crypto market has brought in bullish waves, with the tokens entering the green zone. Assets like Bitcoin (BTC) and Ethereum (ETH) are attempting to reclaim the recent highs. With the brief upturn, the altcoin, Hyperliquid (HYPE), has climbed over 9.71% in the last 24 hours.
Today’s opening price of Hyperliquid was noted at around $45.21, the daily low. After the bulls began riding, the price recovery has pushed it to climb into the $51.07 range. The pivotal resistance between $45.27 and $18.61 zones is to be tested and broken to confirm the uptrend within the HYPE market.
According to the CMC data, at the time of writing, Hyperliquid traded at around the $49.63 mark, with its market cap reaching $16.53 billion. Significantly, the asset’s daily trading volume has increased by over 21.61%, touching $411.1 million. The market has witnessed a liquidation of $2.13 million worth of Hyperliquid in this interval.
Notably, a chart exhibits that Hyperliquid is approaching a key resistance zone near $50. If the price breaks above this level, it could trigger a rally toward $55. The move might signal bullish momentum, with prior resistance turning into support.
Can Hyperliquid Sustain Its Uptrend?
The four-hour technical chart analysis of Hyperliquid reports that the Moving Average Convergence Divergence (MACD) line is above the signal line. It implies the bullish momentum and is generally a confirmation of an uptrend. In addition, the Chaikin Money Flow (CMF) indicator value found at 0.04 shows a slight buying pressure in the market. Notably, the money is likely flowing into the asset.
Hyperliquid’s daily Relative Strength Index (RSI) at 63.11 indicates moderate bullish sentiment. This value is healthy, without being extreme. It may approach the overbought zone. Besides, the Bull Bear Power (BBP) indicator reading of 3.61 suggests strong dominance of bulls, and they are pushing the price higher.
If the recent trading pattern of the asset continues, the price could ascend to the resistance at $49.70. A powerful upside correction might push the Hyperliquid price above the $49.77 range. Assuming the asset takes a bearish turn, the price could descend and immediately test the $49.56 support. With the potent correction on the downside, Hyperliquid’s price might likely slip below $49.49.
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9% Surge and HYPE Climbing: Will Hyperliquid Crack the $51 Barrier?
- Hyperliquid has climbed over 9%, trading at $49.
- HYPE’s daily trading volume has surged by 21%.
A modest 2.22% rebound in the crypto market has brought in bullish waves, with the tokens entering the green zone. Assets like Bitcoin (BTC) and Ethereum (ETH) are attempting to reclaim the recent highs. With the brief upturn, the altcoin, Hyperliquid (HYPE), has climbed over 9.71% in the last 24 hours.
Today’s opening price of Hyperliquid was noted at around $45.21, the daily low. After the bulls began riding, the price recovery has pushed it to climb into the $51.07 range. The pivotal resistance between $45.27 and $18.61 zones is to be tested and broken to confirm the uptrend within the HYPE market.
According to the CMC data, at the time of writing, Hyperliquid traded at around the $49.63 mark, with its market cap reaching $16.53 billion. Significantly, the asset’s daily trading volume has increased by over 21.61%, touching $411.1 million. The market has witnessed a liquidation of $2.13 million worth of Hyperliquid in this interval.
Notably, a chart exhibits that Hyperliquid is approaching a key resistance zone near $50. If the price breaks above this level, it could trigger a rally toward $55. The move might signal bullish momentum, with prior resistance turning into support.
Can Hyperliquid Sustain Its Uptrend?
The four-hour technical chart analysis of Hyperliquid reports that the Moving Average Convergence Divergence (MACD) line is above the signal line. It implies the bullish momentum and is generally a confirmation of an uptrend. In addition, the Chaikin Money Flow (CMF) indicator value found at 0.04 shows a slight buying pressure in the market. Notably, the money is likely flowing into the asset.
Hyperliquid’s daily Relative Strength Index (RSI) at 63.11 indicates moderate bullish sentiment. This value is healthy, without being extreme. It may approach the overbought zone. Besides, the Bull Bear Power (BBP) indicator reading of 3.61 suggests strong dominance of bulls, and they are pushing the price higher.
If the recent trading pattern of the asset continues, the price could ascend to the resistance at $49.70. A powerful upside correction might push the Hyperliquid price above the $49.77 range. Assuming the asset takes a bearish turn, the price could descend and immediately test the $49.56 support. With the potent correction on the downside, Hyperliquid’s price might likely slip below $49.49.
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