What to know:
- Bitwise acquired 112,158 Hyperliquid tokens worth $8.18M via FalconX.
- Strong bullish structure confirmed as buyers maintain control above support levels.
- Indicators show an overbought RSI (77.82) and strong MACD bullish momentum.
Hyperliquid ( HYPE) price shows strong bullish momentum after Bitwise’s purchase via FalconX. The token hit a new all-time high and overtook Dogecoin in market cap. RSI indicates overbought conditions, MACD remains bullish, and near-term targets are still higher, though short-term consolidation remains possible due to extended gains.
Bitwise Buys Hyperliquid Amid Surge
Bitwise has purchased 112,158 Hyperliquid tokens from FalconX in a single transaction worth $8.18 million. The move comes amid strong bullish momentum, as the token gained more than 8.6% in 24 hours and is attracting investor expectations of growth.
HYPE has overtaken Dogecoin in market capitalization, securing ninth position among global cryptocurrencies amid strong investor demand.
It recently reached a new all-time high of 74.09, reflecting powerful bullish sentiment and continued market-wide investor confidence in ongoing growth.
Also Read: HYPE Price Eyes Breakout as Bulls Challenge Key Resistance Above $60
Hype Price Bullish Momentum Driving Higher
HYPE price shows strong bullish momentum after breaking above $50 resistance, pushing aggressively toward $60 and beyond.
This move confirms a structural shift in the market, where buyers dominate, and previous resistance zones are now acting as support, indicating continued upside potential in coming sessions.
The price increase has been too swift and unsustainable without a correction period. A retraction to the $50-$55 range is expected, possibly even to $45, since there will be buyers in those regions for better entry levels than paying premium prices.
According to the crypto analyst Rand Group, the immediate target is at about $78, while a larger target is at about $100, where there is an opportunity for bringing in more liquidity.
Traders should be cautious, and traders should look for pullbacks to key levels before taking any action, since that will ensure continuous profitable trading.
HYPE Price Structure Indicates Bullish Momentum
From an indicator perspective, the Relative Strength Index has risen to 77.82, while the moving average is currently at 71.58.
Both values are above the value of 70, which indicates high upward trend strength as well as the overbought condition.
The higher-than-average RSI shows continued upward pressure, but the high values might also increase chances for consolidation.
The MACD indicator remains decidedly bullish, with the MACD line at 6.92860, which is higher than the signal line at 5.33293.
The positive value of the histogram being 1.59567 indicates a buildup in momentum for further gains. As the histogram bar widens, it seems that buyers are in control of the situation.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: HYPE Price Breaks Key Resistance, Bulls Target Massive $170 Rally
Be the first to comment