Hyperliquid Remains Below The $44 Threshold

Hyperliquid (HYPE) is approaching the $44 threshold.

Hyperliquid price long-term analysis: bullish

Buyers have made two unsuccessful attempts to break the $44 level since June 10 but were thwarted.
Today, the positive momentum could be halted at the $44 high. If buyers break through the $44 level, HYPE could reach a high of $48, which would indicate an uptrend. If the altcoin falls below $44, HYPE will fall but maintain its sideways movement above the moving average lines. At the time of writing, HYPE is $43.62.

HYPE price indicators analysis

The price bars are higher than the moving average lines, which are sloping horizontally after the recent rise. The price bars are marked by doji candlesticks, which causes the altcoin to maintain its range-bound movement. The candlesticks are signalling significant selling pressure at the $44 level.

Technical Indicators:

Key Resistance Levels – $40 and $50

Key Support Levels – $30 and $20

What is the next move for HYPE?

HYPE continues to trade sideways below the $44 mark. Once the cryptocurrency breaks above the $44 mark, it will resume its uptrend. The upper resistance level limits the uptrend. The altcoin will return to its range if it cannot overcome the above-mentioned resistance threshold. In the meantime, the altcoin is still trading below $44.

Coinidol.com reported previously that since May 25, the crypto has been trading above the $32 support and below the $44 resistance level.  

Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.