HYPE Surges 50%, Eyes Breakout Above $16.76
Key Takeaways
- HYPE has seen a price increase of over 50% in recent days.
- The area between $15 and $16 USD currently represents a strong resistance level.
- Technical indicators show short-term bullish tendencies, but the long-term trend remains negative.
- Bitcoin surpasses $80,000 USD – positive market sentiment could support HYPE.
HYPE Sees Strong Price Surge – Is a Trend Reversal in Sight?
The Hyperliquid (HYPE) token has made a significant recovery in just a few days. Since hitting a low of $9.29 USD on April 7, the price has risen by over 50% and is currently trading near the resistance zone between $15 and $16 USD. However, despite this momentum, the overall trend remains downward.
Technical Analysis: Resistance at $16 USD in Focus
On the daily chart, the trend is clear: the price has been forming a series of lower highs and lower lows. To break this downtrend, HYPE would need to surpass the last notable high at $16.76 USD. Only then would a true trend reversal be possible.
The Fibonacci retracement levels between $14.27 USD and $15.62 USD mark key zones that bulls need to break through. The Chaikin Money Flow (CMF) is below -0.05, indicating capital outflows. The MACD (Moving Average Convergence Divergence) is also below the zero line, despite a recent bullish crossover. Overall, this suggests weak buying power amid prevailing selling pressure.
Short-Term Strength on the 4-Hour Chart
In the short-term time frame, the picture looks more optimistic. Since breaking above $11.46 USD on April 8, the market has shown bullish behaviour. The CMF indicates buying pressure, and the MACD supports the uptrend with positive momentum. If this trend continues, resistance levels between $14.6 and $15.7 USD could be overcome.
Particularly important: if the $15.6 USD level is sustainably breached and turns into support, it could present a new buying opportunity.
Liquidation Data Offers Clues to Potential Price Targets
A look at the liquidation heatmap reveals a “magnetic zone” between $14.6 and $15.7 USD. This means the price is highly likely to revisit this area due to a high concentration of liquidations. If the short-term trend reverses, a drop to around $12 USD is conceivable – an area where many short positions have recently accumulated.
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Dependence on Bitcoin and Market Sentiment
Bitcoin recently surpassed the $80,000 USD mark. If the positive market sentiment persists, it could also support HYPE. However, caution is advised: the broader structure remains bearish, which limits the upside potential.
Our Assessment
HYPE is showing short-term strength but faces a key resistance level between $15 and $16 USD. Traders may find opportunities if this zone is broken. Until then, the risk of a pullback remains high. Investors should closely monitor price developments and wait for a clear confirmation of a trend reversal. The development of Bitcoin and overall market sentiment will play a crucial role.
Sources
- TradingView
- Coinglass
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $83,728.00 |
| 24h % | -2.34 % |
| 7d % | 8.98 % |
| 30d % | 0.81 % |
| 60d % | -14.35 % |
| 1y % | 32.89 % |
| Market Cap | $1,662,508,443,355.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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