• HYPE price surged 977% in just three weeks, hitting a $10B market cap.
  • Current trading volume is up 50%, with strong bullish technical indicators.

Hyperliquid (HYPE) recently achieved a new all-time high of $35.02. It is currently trading at $33.36, reflecting a 1.17% gain over the last 24 hours. With a market cap of $9.03 billion and a trading volume of $462.02 million (up 27.96%), the token’s volume-to-market cap ratio stands at an impressive 5.2%.

Beating the odds of the crypto market crash, Hyperliquid’s native token, HYPE, has remained on a strong bullish run. Over the past week, the token’s price has surged by 63%. Launched just three weeks ago as the native token of the layer-one blockchain Hyperliquid, HYPE has demonstrated remarkable performance. 

Since its debut, the token has soared by an impressive 977%, capturing widespread attention within the crypto community. While currently in a phase of minor consolidation, HYPE is trading at $34.47, with its 24-hour trading volume surging by 50% to $655.01 million.

Bullish Indicators for HYPE

HYPE faces resistance at $35, a critical psychological level. If it breaks this, the next target could be $38. Conversely, support rests at $32.80. Falling below this level could trigger a drop toward $30. Key price action near these levels will determine future momentum.

The chart shows a clear uptrend, but recent price consolidation indicates caution. The Relative Strength Index (RSI) at 61.34 and its average suggest HYPE remains in bullish territory but is nearing overbought conditions.

Will HYPE Bulls Break Resistance After Its All-Time High? image 0

The 9-day moving average (MA) stands at $32.65, while the 21-day MA is $28.59. The recent bullish crossover indicates short-term momentum favors buyers. This setup often signals an upward trend, but traders should watch for confirmation. If the 9-day MA remains above the 21-day MA, HYPE could sustain its upward trajectory. However, a reversal might indicate fading momentum.

The RSI at 61.34 reflects positive market sentiment. The RSI average remains above 50, signaling that buyers dominate the market. A break above 70 would confirm overbought conditions, potentially leading to a pullback. Conversely, a dip below 50 might signal bearish pressure.

HYPE’s recent performance shows strong investor interest and market activity. The bullish moving average crossover and RSI position suggest a potential upside. However, traders must monitor support and resistance levels for any breakout or reversal.

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