Hyperliquid price remained in focus after posting another daily gain while holding above an important technical support area. As of the time of writing, the Hyperliquid (HYPE) is trading at $58.80, up 2.25% in the last 24 hours. Daily trading volume was $325.50 million, and its capitalization was $14.86 billion, accounting for 0.67% of the entire crypto market.
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HYPE Bulls Target $74 Price Zone
Crypto analyst Cryptorphic stated that HYPE is in the midst of testing an ascending trendline that it has been following during its recent rally. According to the analyst, this level could become a turning point if buying activity returns.
HYPE is consolidating, having come back from its recent highs. The price has not broken below the support level and has been clinging to the trendline, indicating that the market is in a holding pattern.
The analyst has a positive outlook on the continuation of the trendline, which suggests that HYPE may trade back towards the resistance level of $70 to $74. If the break-up occurs there, the bull market sentiment might be reinforced, and more buyers may be brought into the market.
Hyperliquid Price Holds Above Critical $50–$55 Support
According to the analysis, the $50 to $55 price zone remains the most important support area. The market remains in a positive trend, and HYPE has been trading up from this range.
Holding above this level would suggest that buyers are still in control, even after the recent correction. However, a break below it could weaken the current outlook and increase the chances of a deeper decline before another recovery attempt.
Beyond the immediate resistance, analysts believe that HYPE may eventually reach $100 if the user dynamics that are observed today stay the same.
The analyst further noted that higher buying momentum may pave the way for a higher trend of approaching $120 in the longer term. Those targets are still fairly high above the current price but will require HYPE to break out of the nearby resistance level and hold the support level around $70-$74 of the $100 timeframe.
Why This Matters for the Market
Hyperliquid has become one of the fastest-growing decentralized perpetual trading platforms, and its native HYPE token has attracted increasing attention as activity on the network expands. Strong trading volumes and a multi-billion-dollar market value show that the project has gained a meaningful position within the digital asset market.
Hyperliquid price is above its key support level for the time being, thus keeping the bullish trend unchanged. The challenge for buyers will now be to get the token back to the $70-$74 area where it will need to clear the way to reaching the $100 price level and perhaps the $120 target.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
