Hyperliquid (HYPE) Open Interest Surges to $44 Million
The post Hyperliquid (HYPE) Open Interest Surges to $44 Million appeared on BitcoinEthereumNews.com.
Hyperliquid’s native crypto token HYPE has recently experienced a significant 40% price decline. However, the altcoin is showing signs of recovery. Traders have become increasingly bullish on HYPE, with many believing it can regain the losses sustained in the recent downturn. This renewed confidence, supported by positive market movements, has sparked hopes of a price rebound. Hyperliquid Finds Strong Support Over the past 24 hours, the Open Interest for Hyperliquid has risen by $44 million, bringing the total to $428 million. This increase follows a recent uptick in price, which added momentum to the ongoing recovery. The growth in Open Interest suggests that traders are becoming more confident in HYPE’s potential for a price rise. This influx of interest has fueled optimism among investors and traders alike, with many viewing this as a sign of further upside. As a result, there is a renewed sense of enthusiasm among HYPE enthusiasts, who believe the altcoin is well-positioned to reclaim lost value. This positive sentiment could contribute to continued price growth, particularly as market conditions remain favorable for a recovery. HYPE Open Interest. Source: Coinglass The overall macro momentum of Hyperliquid has shown significant improvement in recent days. Key technical indicators, such as the Moving Average Convergence Divergence (MACD), reflect a shift from a bearish to a bullish trend this week. This change marks the end of a month-long bearish crossover and signals the potential for further upward momentum. As the bullish momentum rises, it provides HYPE with the room needed to continue its recovery. The shift in the MACD reflects a positive shift in market sentiment, suggesting that the altcoin may be in a stronger position moving forward. HYPE MACD. Source: TradingView HYPE Price Faces Barrier HYPE’s price is currently trading at $16.10, up by 14% over the last 24 hours. The altcoin…
Filed under: News - @ March 22, 2025 2:28 pm