What to know:
- HYPE trades near $42 with bullish momentum backed by strong EMA alignment
- Short liquidations exceed $3.26 million, squeezing bearish traders and accelerating upward price moves
- RSI near 66 and rising volume signal room for further HYPE price gains
HYPE price analysis shows strong bullish momentum as the token trades near $42. Data from CoinMarketCap indicates a steady uptrend supported by rising demand.
According to CoinGlass data, over $4.19 million in liquidations occurred in the past 24 hours. Most liquidations came from short positions, signaling a squeeze on bearish traders.
HYPE Price Analysis Shows Strong Bullish Trend Structure
HYPE price analysis has shown a repetitive pattern of higher lows and higher highs across many time frames, which confirms a very strong bullish trend structure. Crypto Analyst Sjuul said, “It looks really good on high timeframes,” and he stressed that this type of bullish trend structure has happened repeatedly.
He explained that the price action was a “beautiful bullish structure” due to the price continually moving higher after each higher low. Sjuul pointed out that fading this trend would likely result in losses for investors.
Also Read | Hyperliquid (HYPE) Gains Strength as Bulls Eye $43 Breakout Point
Confirmation of Trend Strength
HYPE’s 20 EMA is positioned above HYPE’s 50 EMA, and both of them are positioned above the 200 EMA, per the TradingView chart. This positioning confirms that there is a strong bullish trend developing.
The long-term support area is located at the 200 EMA at $33, and the mid-term support area is located at the 50 EMA at $35. The 20 EMA is positioned just above the $36 level, signifying short-term momentum continuation.
All key indicators have confirmed a bullish trend structure and continue to support the current trend structure of HYPE.
Currently, RSI is at the 66 level and therefore does not indicate entry into the overbought zone yet. Additional upward price movement should be expected.
MACD shows a positive cross-over and the signal line is trending upward. Histogram bars are showing increased bullish momentum.
Increased participation by investors typically validates continued trend strength, and recent volumes are reaching nearly 280 million.
A Short Squeeze
Based on CoinGlass data, the HYPE liquidation data is heavily weighted towards the short side. There is nearly three times the amount of short liquidated ($3.26 million) than long liquidated (approximately $925,000).
The HYPE liquidation data for the shorts supports that HYPE is continuing to move up. Peak activity was limited to the one-hour timeframe and happened at a high level of volatility. The single largest liquidation reached a value of about $838,000.
Important Liquidation Points
HYPE price analysis using the liquidation heatmap has shown that there are very strong liquidity clusters in the zone of $41 to $43. These zones could serve as some short-term resistance points.
There is less liquidity around $39, so this area could be seen as potential support if the price falls back. Traders use these types of areas for both entry and exit.
High liquidity above HYPE’s current price level can be used as target levels for additional upside price action.
Why It Is Important
Rising short liquidations and a strong bullish structure suggest HYPE could extend its rally and attract increased trader interest.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read | Hyperliquid (HYPE) Signals Powerful Breakout: Is a 12% Rally to $42 Imminent?
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