Key point:
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Hyperliquid’s impressive growth trajectory might keep investors’ eyes on HYPE.
Hyperliquid (HYPE) has been on a roll in the past year, with average trading volume skyrocketing from a measly $100 million to a whopping $3 to $5 billion, according to CoinGlass’ semi-annual crypto derivatives outlook. 📈
“Hyperliquid accounts for more than 80% of the DeFi perpetual contracts market share,” the report added. 💸
Could Hyperliquid’s growing dominance give HYPE a boost? Let’s take a look at the charts to find out.
HYPE price prediction
HYPE bounced off the 50-day simple moving average ($37.08) on Tuesday, showing that there’s still demand at lower levels. 📈
The gradually upsloping 20-day exponential moving average ($38.43) and the relative strength index (RSI) just above the midpoint give a slight edge to the bulls. The HYPE/USDT pair could rise to $41.23, which is a crucial overhead resistance. If this level is scaled, the pair could surge to $44 and later to $45.80. 🚀
The 50-day SMA is the critical support to watch out for on the downside. A break below the level could sink the pair to $35.33 and subsequently to $30.69. 📉
The pair has been consolidating between $36.82 and $41.23 on the 4-hour chart. The flattish moving averages and the RSI near the midpoint don’t give a clear advantage to either the bulls or the bears. 😐
If the price remains above the moving averages, the pair could rise to $40 and later to $41.23. A break above $41.23 signals that the buyers have taken control. That could start a rally toward $44. 🚀
Conversely, if the price slips and maintains below the moving averages, the pair could slump to the solid support at $36.82. 📉
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2025-07-09 22:37