- Hyperliquid has jumped by over 9%, trading at $34.
- HYPE’s daily trading volume has exploded by 150%.
With a 2.86% spike in the market, the crypto assets are charted in a brief green paint. But the bearish pressure grips within them, restricting a full-blown bullish move. The assets like Bitcoin (BTC) and Ethereum (ETH) are attempting to enter the recent high zones. Meantime, Hyperliquid (HYPE) has registered a steady 11.78% jump.
Arthur Hayes believes Hyperliquid could rise significantly in the long term. He predicts the price may reach $150 by August 2026, which would be about 5 times higher than its roughly $30 price when he wrote his essay. His view is based on HYPE’s strong revenue model and token buyback mechanism.
The asset’s crucial resistance levels between $30.66 and $35.12 are tested and broken to confirm the uptrend. With further bull support, the price could expect more gains to hit the HYPE market. It opened the day trading at a low of $30.45, and the bullish shift has triggered the climb to the high of $35.33 mark.
At the time of writing, Hyperliquid traded at $34.53, with its market cap at $8.87 billion. Besides, the daily trading volume has skyrocketed by over 150.12%, reaching the $529.3 million range. According to the Coinglass data, the market has experienced a liquidation of $4.01 million worth of HYPE in the last 24 hours.
If the in-progress upside momentum continues, the Hyperliquid price could rise to the $37.58 resistance range. Upon the bulls turning highly powerful, the golden cross might emerge and likely push the price above $40. In defiance, assuming a bearish reversal, the price might fall to its immediate support at around $31. With the downside correction intensifying, it may initiate the death cross to unfold, and take the HYPE price below $28.30.
Will Hyperliquid Continue Its Upward Momentum?
Both the Moving Average Convergence Divergence (MACD) and the signal lines are located above the zero line, which implies bullish momentum in the HYPE market. Also, the recent price action is stronger than the longer-term average. As long as the lines stay above zero, the uptrend may continue.
In addition, the Chaikin Money Flow (CMF) indicator of Hyperliquid settled at 0.17 points to moderate to strong buying pressure. Significantly, this positive value shows capital inflows, which are actively accumulating the asset. If it rises further, it helps strengthen and support the potential upside.
HYPE’s Bull Bear Power (BBP) reading, resting at 4.179, indicates strong bullish dominance. The buyers are clearly dominating the market, pushing the price above its average level. Notably, it reflects solid upward momentum, and a decline toward zero would signal a weakening bullish trajectory.
Furthermore, the daily Relative Strength Index positioned at 76.13 suggests that it is in the active overbought zone, displaying a strong bullish impulse. However, when RSI moves even higher, Hyperliquid may become overextended and increase the chance of a short-term consolidation in the market.
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