- HYPE trades at $46.06 with a strong weekly chart structure.
- The market holds above major EMAs, signaling a healthy long-term trend.
- Momentum shows signs of short-term consolidation below $50 resistance.
Hyperliquid (HYPE) is still under the spotlight as it maintains its stability around $46 despite having recorded a minor 1.54% drop within the last 24 hours.
Its present volume is approximately $597.77 million, and its market capitalization is approximately $15.38 billion. This keeps the token very much on investors’ radar.
During the last week, HYPE has moved within an existing price band of $45.00 to $50.00. It first surged from $45.50 to an intraday peak just above $49.50, only to encounter market resistance.
This led to a retreat, followed by a consolidative narrow mode, as the price remained between $46.00 and $48.00. There has been a temporary breakout below $45.50, which tested the lower support area, but an instant bounce back hinted at prevailing market buying interest.
The latest development shows the asset remaining below $46.00, an articulation of ubiquitous pressure around the ceiling of the resistance, and an impression that the market continues to await more confirmation before creating an unequivocal direction.
Also Read: Hyperliquid: HYPE Signal Breakout, Eyeing $60 in the Short Term
HYPE Daily Chart Reflects Underlying Strength
Despite recent volatility, technical analysis remains favorable for a bullish setup for HYPE. The coin remains anchored firmly above all major exponential moving averages (EMAs), including EMA 20 at $43.39 and EMA 50 at $39.01.
This is normally a sign of sustained buying pressure and investor sentiment. Trading is indeed being done just below the higher Bollinger Band at $50.31, typically associated with short-term overstretch, but also confirms potent uphill momentum over recent sessions.
The middle and lower Bollinger Bands, respectively, of $42.62 and $34.93, would be good support if the market is faced with a minor correction. These levels would most likely offer main reference points for verifying likely retracements in the days to come.
Momentum Indicators Signal Caution Near Resistance
Momentum indicators show there is the possibility of a short-term decline, but the general trend is still good. The Relative Strength Index (RSI) is 60.92, demonstrating moderate bullish pressure, but has declined somewhat below its signal line.
The MACD indicator remains bullish but only has a mild histogram, again supporting the current uptrend but also showing possibilities of losing momentum.
Since HYPE is building a consolidation below its psychological level of $50, bulls must observe market movements extremely cautiously for breakout confirmations or additional accumulation levels before the next change of direction.
Also Read: Hyperliquid (HYPE) Price Targets $100 as Greed Returns to Crypto Markets
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.