- HYPE gained 17.43% in the past week despite a recent daily decline.
- Momentum indicators highlight strong bullish signals, with the RSI currently at 65.32.
- Open interest dropped by 7.31%, showing reduced leverage-driven activity.
- The price structure suggests a potential move toward $56 if bullish momentum persists.
Hyperliquid (HYPE) shows short-term weakness with a 2.74% daily decline but remains a strong weekly performer, gaining 17.43% amid a bullish market. This highlights steady buying momentum.
At press time, HYPE is trading at $0.01470, with a market capitalization of $16.06 billion. Its 24-hour trading volume sits at $336.18 million, representing a 20.11% decline compared with the previous day. The dip in volume reflects a cooling in immediate activity, but the weekly chart indicates steady bullish control.
Also Read: Hyperliquid Smashes $51, Breakout Rally Targets $55 Next
HYPE Indicators Signal Bullish Continuation
HYPE’s weekly candlestick closed 4.5% higher, bouncing strongly from $42.38 and now holding above the middle Bollinger Band at $36.70. The price currently trades at $48.10, comfortably within an ascending channel. With the upper Bollinger Band near $56.55, traders are watching for a potential breakout in the coming weeks.
Momentum tools confirm the continued strength of HYPE’s rally. The Relative Strength Index (RSI) at 65.32 reflects sustained buying pressure without signaling exhaustion. After recovering from a short dip, the RSI turned upward, showing renewed bullish energy. This setup allows room for more gains before the market enters overbought territory.
The MACD reinforces this view. Its line holds above the signal line, supported by a positive histogram reading of 0.52. Both lines remain above the zero axis, a sign commonly associated with stable, long-term uptrends. This combination suggests the trend remains firmly controlled by buyers.
A rally through the $51.12 resistance level should open up a path towards $56.55, its next major test level. Support above $46 needs to hold, though; failure below this would shift attention towards $42 and $36.70.
Open Interest Shows Healthy Market Dynamics
Despite bullish price action, futures market data reveals notable shifts. Open interest fell 7.31% to $2.12 billion, which is a sign of reduced leverage exposure. That would suggest some risk exposure is being reduced or some profit taking by traders while support in the spot market is larger.
The OI-weighted funding rate stands at 0.0089%, where the long positions only marginally dominate shorts. Such moderately bullish sentiment, coupled with gains in spot-driven momentum, is a sign of a more sustainable rally. Less speculative sentiment based on actual demand facilitates healthier expansion in the longer term.
Also Read: HYPE Price Analysis: Ascending Triangle Pattern Points Toward $60–$64 Target
