Hyperliquid HYPE has captured renewed attention in the crypto market as bullish momentum builds. Analysts point to expanding platform functionality and strong technical signals as driving factors, highlighting growing investor interest and a potential shift in market dynamics.
HYPE climbed to $41.42, up 1.07% over the past 24 hours, reflecting a 20.75% gain across the week. Trading volume totaled $422.1 million, down 16.85%, as investors respond to the platform’s expanding functionality.
Technical Signals Indicate a Bullish Reversal
Crypto analyst Momin attributes this surge to Hyperliquid’s HIP-3 initiative, which broadens the platform’s market access to assets like oil futures and equity perpetual contracts around the clock. “This kind of expanding utility attracts traders seeking diversified exposure. Short-term consolidation is expected, but the bullish case strengthens weekly,” Momin said.
HYPE’s perpetual contract chart against Tether shows a clear shift from a prolonged downtrend to bullish momentum. Previously, the price formed lower highs and lower lows under a descending trendline.
After an accumulation phase near the low-$20 range, the structure broke, and the $33–$34 region, once resistance, now serves as key support.
The token subsequently surged into the $40–$44 zone, with rising volume signaling genuine market demand rather than a short-lived bounce.
Analysts suggest that maintaining support above $33–$34 is crucial for potential continuation toward $49–$51. Current consolidation just below resistance is considered healthy, allowing supply absorption before another upward move.
Also Read | Hyperliquid Reports 33% Trading Volume From Tokenized Assets
Fibonacci Levels Key to HYPE’s Price Action
Crypto analyst CarpeNoctom points to Fibonacci retracement and extension levels to forecast HYPE’s next potential targets. After rebounding from a $20.65 low, the token surpassed the 0.5 Fibonacci level at $35.06, confirming bullish momentum.
The previous high near $59.52 represents the next resistance. Extension levels project $114.52 and $171.61 as possible long-term targets if momentum continues. Traders should watch for a breakout above $59.52 to confirm continuation.
Conversely, falling below $35.06 could indicate a deeper pullback before another rally. Overall, the combination of structural bullish signals and expanding platform utility positions HYPE as a strong contender in the current crypto market landscape.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read | Hyperliquid (HYPE) Price Targets $59 as Bullish Momentum Builds Strongly
