- Hyperliquid surges over 10% in 24 hours amid strong market optimism.
- Robinhood adds HYPE to its crypto trading lineup.
- Bulls target resistance near $40.21 for a breakout.
- Market signals suggest a possible short-term trend reversal ahead.
Hyperliquid (HYPE) continues its strong upward momentum as market optimism drives buying activity. The token surged nearly 10.4% in the past 24 hours, showing renewed investor confidence. Over the last week, HYPE recorded a 5.4% gain, reinforcing its positive trend and signaling sustained strength in the broader crypto market.
Currently, HYPE is trading at $39.77 with a 24-hour trading volume of $759.42 million, reflecting a 29.35% increase. Its market capitalization has climbed to $13.39 billion, up 10.73%. The strong volume and price growth highlight increasing market demand, suggesting the bullish trend could persist if buying pressure remains consistent.
Also Read: HYPE Tests Key Support Near $42 Amid Growing Market Uncertainty
Robinhood Expands Crypto Offerings with HYPE Listing
HYPE, the native token of Hyperliquid, is now officially available for trading on Robinhood. This marks a significant milestone for the project as it gains exposure on one of the most popular retail trading platforms in the United States. The listing allows millions of users to buy, sell, and hold HYPE directly through Robinhood’s user-friendly app.
The move is expected to boost trading volume and liquidity while expanding HYPE’s visibility beyond the core crypto community. With Robinhood’s growing support for digital assets, this addition highlights the platform’s continued commitment to offering trending crypto tokens and supporting innovative blockchain projects like Hyperliquid.
Bullish Momentum Builds for Hyperliquid Recovery
According to crypto analyst @AltcoinSherpa, HYPE is showing signs of recovery after testing strong support levels. This comes after it had bounced back from the $34-35 levels, which shows it aligned with a 0.5 Fibonacci level, indicating that it had served as a strong demand area.
This indicates that it had seen renewed buying interest as it attempts a reversal after being in a correction phase, having corrected from a high of $59. Currently, the major level at $40.21, or the 0.382 Fibonacci level, has emerged as the major resistance point. A decisive breach past this level may propel the price towards the $47-48 level, which will serve as a major resistance. However, a break above this level may propel the HYPE to retest the $59 again.
On the flip side, a failure to consolidate past $40 may cause a lateral move amongst the levels of $35. Additionally, trading volumes near the lows indicate accumulation, implying a revival of market confidence.
From a broader perspective, HYPE seems to be operating in a corrective phase after the significant rally that happened earlier this year. If it manages to maintain itself above $35.50, it might just form a double-bottom pattern, indicating a reversal in the trend for a shorter period.
On the other hand, a move below this crucial level may pull it towards its Fibonacci level at $28.40, reducing its bullish prospects for now. Overall, it appears that HYPE remains in a phase of consolidation with a slight bullish bias, provided it remains above $35.
Also Read: Hyperliquid Hack: $21 Million Loss Highlights Private Key Risks
