Hyperliquid (HYPE) is showing strong bullish momentum while testing key resistance with sustained buying pressure, and despite overbought signals, the HYPE price trend remains positive as traders await a breakout, supported by growing on-chain activity and rising demand for real-world asset trading on Hyperliquid.
At the time of writing, HYPE is trading at $57.43 with a 24-hour trading volume of $1.35 million and a market capitalization of $14.59 billion. Following the 15.34% gain over the last 24 hours, the focus is on whether the token could maintain its momentum to make a new all-time high.
Source: CoinMarketCap
HYPE Price Tests Resistance as Bulls Eye New ATH
According to the crypto analyst Sjuul, the HYPE price is continuing to trade directly against a key resistance zone, showing sustained buying pressure with no clear rejection so far.
Market structure suggests growing bullish momentum for the HYPE price as each push higher is met with absorption of sell orders, hinting that demand is steadily strengthening at the upper boundary of the current range.
Source: Sjuul’s X Post
It is anticipated that traders will be highly alert for a breakthrough because this particular level marks the final obstacle before any possibility of the HYPE price discovery above the $60 mark.
As long as buyers continue to maintain dominance and breach this resistance with confirmation, there is a likelihood of an acceleration of this rising trend.
Also Read: Hyperliquid Whale Gains $12.9M After 6-Month HYPE Long
HYPE Technical Outlook Turns Strongly Positive
According to TradingView, the HYPE price demonstrates an intense parabolic breakout, which makes the price shoot up by 4.99% to $57.56.
Following a period of ranging above the crucial level of support at $29.00, the breakout rises aggressively. The HYPE price is trading very far away from all important EMAs, while the 20-day EMA stands at $45.69.
Source: TradingView
With the wave, the 14-day RSI has skyrocketed up to 77.30, decisively crossing above its signal line of 58.27. This is a strong indication of the strength of buying pressure as it is overbought.
Despite the bullishness of the general trend, such a prolonged condition points to an imminent period of correction for the HYPE price.
RWA Trading on Hyperliquid Hits $2.6 Billion Record
The data from Hyperliquid further highlighted that trading in real-world assets (RWAs) on Hyperliquid has achieved an all-time high mark as the open interest level has gone up to $2.6 billion.
Over the past two months, there has been a doubling of this metric, which highlights fast growth. This development is fueled by increasing interest from traders who want more exposure to RWA on-chain.
Source: Hyperliquid’s X Post
The momentum reflects an increasing appetite for continuous access to the classic asset class through blockchain architecture. Market participants are gravitating towards on-chain trading mechanisms compared to the existing trading schedule of the legacy markets.
With increased liquidity and maturity of derivative instruments, RWAs become an essential element for bridging the gap between traditional markets and crypto.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Hyperliquid Weekly Fees Hit $11M Amid Perps Growth
