HYPE Rises 35%, Faces Key Resistance at $21
The Most Important Points at a Glance
Hyperliquid (HYPE) has seen a 35% price increase over the past ten days. Despite this short-term recovery, market sentiment for swing traders remains bearish. The resistance zone between $18.5 and $21 represents a critical hurdle. A breakout above $21.25 could signal a trend reversal.
Hyperliquid: Strong Recovery, but Resistance Remains
The DEX token Hyperliquid (HYPE) has recovered from its support at $12 and is now approaching the resistance zone between $18.5 and $21. The recent price movement was supported by Bitcoin’s (BTC) moderate increase from $78,000 to $84,000.
Technical indicators suggest short-term bullish signals. However, the broader trend on the daily chart remains bearish. Only a sustained breakout above $21.25 could initiate a structural trend reversal.
Technical Analysis: Resistances and Supports
On the daily chart, the structure remains bearish. The last significant resistance is at $21.25, a zone that played an important role back in February. The Fibonacci retracement analysis shows that the 50% retracement level is at $20.74, while $22.2 could act as another resistance.
If the downtrend continues, the price could drop towards $8.2. The On-Balance Volume (OBV) indicator is rising but has not yet surpassed the support level of the first two months of 2025. The Relative Strength Index (RSI) is approaching the neutral 50 mark, indicating a possible trend reversal.
Liquidity Analysis: Potential for Further Price Movements
According to the 1-month liquidation heatmap, HYPE recently broke through a liquidity zone between $16.1 and $16.4. This could trigger a short-term correction towards $13.7. At the same time, the existing liquidity up to $18.3 could push the price further upwards.
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The probability of a further increase into the resistance zone of $20 to $21 remains. However, investors should closely monitor Bitcoin’s price movements, as they have a significant impact on the altcoin market.
Our Assessment
Hyperliquid is showing short-term bullish tendencies, but the broader market situation remains challenging. A sustained rise above $21.25 would be necessary to confirm a clear trend reversal. Until then, investors should remain cautious and closely monitor price developments.
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