Hyperliquid Jumps 8%, Can HYPE Break Past $14.90?
The post Hyperliquid Jumps 8%, Can HYPE Break Past $14.90? appeared on BitcoinEthereumNews.com.
Hyperliquid has climbed over 8%, reaching $13. HYPE’s daily trading volume has surged by 47%. A modest rebound in the crypto market has injected bullish sentiment, with Bitcoin and Ethereum attempting to overturn the downtrend. Meanwhile, Hyperliquid (HYPE) has outpaced the market, climbing over 8.78% and securing a spot among the top gainers. The opening price for Hyperliquid was $12.43, hitting a low for the day. Riding the bullish wave, the asset’s recovery pushed its price to the $13.77 range. The crucial resistance levels between $15.96 and $18.68 are to be tested to reinforce a strong bullish support. At the time of writing, Hyperliquid traded at around $13.68, with its market cap staying at $4.57 billion. Notably, the asset’s daily trading volume has increased by over 47.79%, reaching $73.46 million. Can HYPE Break Out and Resume Its Uptrend? Assuming the continuation of the downside pressure, HYPE could slip to $12.52. A strong bearish shift could push Hyperliquid’s price back to its previous lows around $11 with the risk of dipping even further. If the downtrend reverses, the asset could see a surge in price, immediately testing the resistance at $14.07. The price could reinforce its upward correction, likely driving the asset beyond the $14.90 mark. HYPE’s Moving Average Convergence Divergence (MACD) line is above the signal line with early signs of a recovery. However, since both lines remain below the zero line, overall momentum is in the bearish zone. Moreover, the Bull Bear Power (BBP) indicator reading of 1.144 signals that the bulls currently have the upper hand within the market, with the potential upward momentum in the price of Hyperliquid. Hyperliquid’s daily relative strength index (RSI) positioned at 56.25 indicates that the asset is in neutral-to-positive territory. Besides, the short-term 9-day moving average is settled above the long-term 21-day…
Filed under: News - @ April 1, 2025 10:27 am