Hyperliquid (HYPE) is at a key support zone where holding it could maintain bullish momentum and lead to a strong upward move, while a breakdown may trigger further decline for the HYPE price. However, Hyperliquid’s NEAR integration expands cross-chain perpetual trading with higher leverage and increased market risk.
At the time of writing, HYPE is trading at $54.48 with a 24-hour trading volume of $1.04 billion and a market capitalization of $13.82 billion. Despite the 7.41% decline over the last 24 hours, the HYPE price structure and network expansion point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Bitwise BHYP ETF Records First HYPE Sale of $2.9M
HYPE Price Could Hold $56 Neckline For a Rally to $68
According to the crypto analyst Umair Orakzai, the HYPE price is approaching a key technical inflection point as the price compresses around the $56 neckline.
Market participants are closely watching this level as a decisive structure that could define the next major move. The HYPE price setup reflects a previously identified bias, now entering a confirmation phase where reaction at support becomes critical for direction.
Source: Umair Orakzai’s X Post
If the HYPE price breaks below $56, further losses might follow along with increased downward momentum, whereas if the price stays above $56, the bullish structure will be maintained.
Provided that the support area holds, the potential target zones at $64 and $68 will become possible for the HYPE price. However, until we receive the confirmation signal, the market remains in an indecisive yet volatile position.
Hyperliquid Perps Launches on NEAR With 40x Leverage
The data from Cointelegraph further highlighted that Hyperliquid has expanded its horizons through the use of NEAR Protocol, whereby perpetual trading of futures is included in a cross-chain DeFi environment.
The platform allows users to deposit funds from 35 different blockchains without having to worry about any bridging, where these funds immediately become collateral for trades. Users have access to over 50 markets.
Source: Cointelegraph’s X Post
This combination will allow up to 40x leverage on Hyperliquid exchanges, increasing exposure but at the same time increasing risk.
With the combination of the scalable technology of NEAR and the speedy execution by Hyperliquid, the partnership aims to increase efficiency and the accessibility of the exchange.
The partnership also reflects an overall move within the DeFi space towards better integration and the need for risk management.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Arthur Hayes Buys $2.09M in HYPE After $72 Peak Profit-Taking
