- HYPE holds strong above $45.80, with bulls targeting a breakout past $50 toward $60 next.
- The network’s treasury is close to $1.22 billion, with daily deflation reaching 73,196 HYPE tokens at $47.43.
- Fibonacci resistance lies at $51.75 and $54.75, with bullish momentum eyeing a $60 extension.
HYPE rejected near the crucial $50 psychological level on Monday, yet buyers remain resilient. The bulls have not allowed significant price drops, signaling strong support. The daily chart indicates moving averages rising and the relative strength index (RSI) approaching the overbought zone, indicating bullish dominance.
If the asset recovers from the support of $45.80, it would be a clear indication that the buyers have made the level a floor. It would enhance the possibility of moving above $50, which can take the price closer to the resistance of $60. The 20-day exponential moving average (20-day EMA) at $42.93 remains a vital support level to sustain the bullish momentum.
Also Read: HYPE Coin Skyrockets to $39.20, Kinetiq Launch and Whale Moves Ignite Market
A drop beneath the 50-day SMA would further stretch the correction to around $41. Conversely, a rally through $50 would pave the way to $60. The near-term trend will be established as a result of which side wins the tug of war surrounding major moving averages.
Hyperliquid Treasury Nears $1.22 Billion
Hyperliquid Hub just reported that the Assistance Fund redeemed around 99,620 HYPE tokens at $47.43 within the past 24-hour period. Stakers and validators also earned 26,424 tokens as rewards, hence the cumulative deflation of 73,196 tokens per day.
Daily deflation contributes a sum of around 2.2 million tokens monthly and 26.35 million annually, almost the same as the Solana inflation. The Assistance Fund holds about 26.46 million tokens, equivalent to nearly $1.22 billion, suggesting significant treasury support.
A whopping 92.78% of the revenue of Hyperliquid gets allocated towards token purchases on the open market. This shows a great commitment towards decreasing supply. The project has even conducted the largest airdrop ever and is getting ready to unveil the HyperEVM platform.
Market Outlook: Next Targets Set Near $56
MooncakeXBT’s chart indicates a clear ascending channel since early Q1, which has good volume support between the $42 and $45 zone. The price has respected the zone even during minor corrections. No significant resistance exists ahead until the low $50s, which predicts well for further upmoves.
Near-term Fibonacci resistance levels are at $51.75 and $54.75. An extension to $56 is possible if momentum persists. These levels fit the current pattern of a measured move, suggesting the altcoin’s path to higher prices stays intact.
Also Read: Hyperliquid Price Forecast: Will HYPE Hit $60 This Week?