HYPE Remains in a Tight Range above $35.50

The Hyperliquid (HYPE) price remains below the moving average lines, although it is correcting upwards.

Hyperliquid price long-term analysis: bearish

The cryptocurrency is trading in a range above the $36 support but below the moving averages. Now, the bulls are attempting to push the price above the moving average lines. HYPE will reach $50 if the bulls break through the moving average boundaries. Hyperliquid will fall to the $36 support level if the positive momentum fails to break above the recent high. If the cryptocurrency declines and breaks below the $36 support, it will reach a low of $30. Today, HYPE is trading below the moving average lines at $40.86.

Technical Indicators: 

HYPE price indicator analysis

The horizontal moving average lines slope downwards, indicating a downturn. The 21-day SMA is dipping below the 50-day SMA. On the 4-hour chart, the price bars are above the downward-sloping moving average lines. The cryptocurrency will rise when it is above the moving average lines.

What is the next direction for HYPE?

HYPE is in an upward correction and trades within a restricted price range. The cryptocurrency is trading above the $36 support but below the $44 high.

Today, the bullish momentum has broken above the moving average lines as it approaches the previous high of $44. In previous price action, the cryptocurrency would decrease once it reached the $43 high. The current price range will continue if it turns down from its recent high.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.