What to know:
- HYPE stays bullish in an ascending channel, with price nearing resistance and moving averages aligned in favor of buyers.
- Derivatives show rising activity, with open interest up 19.35% to $1.94 billion, signaling stronger trader confidence.
- Technicals suggest a breakout setup, with HYPE targeting $45 mid-channel resistance and a potential move toward $52.
Hyperliquid (HYPE) stays bullish in an ascending channel with price near resistance, while the HYPE price breakout is supported by aligned moving averages, though volatility is rising. Derivatives show strong participation as both open interest and trading activity increase, signaling sustained market interest and continued momentum. According to CoinMarketCap, HYPE is trading at $45.48 with a daily gain of 12.88%.
Source: CoinMarketCap
HYPE Derivative Data Support Upward Breakout
According to Coinglass, the HYPE open interest increased by 19.35%, reaching $1.94 billion, indicating stronger derivative positioning and sustained market participation. This rise reflects growing trader commitment and potential continuation of existing trends, with more capital allocated to outstanding contracts.
Source: Coinglass
Trading volume surged by 252.54%, reaching $4.43 billion, showing a sharp increase in market activity and liquidity. This reflects heightened short-term participation, stronger momentum, and increased investor engagement across the market, signaling sustained trading interest.
Also Read: HYPE Price Faces Pressure After Trendline Break: Is a Decline Coming?
HYPE Price Support Retest Could Fuel a Rally to $52
Furthermore, the crypto analyst Alpha Crypto Signal pointed out that the HYPE price is firmly entrenched in an upward trend that sees it travel along an upward-sloping channel characterized by rising peaks and troughs.
The HYPE price is currently approaching the lower support line, which usually attracts new buyer interest. This area may prove to be another good buying opportunity if the trend continues.
Source: Alpha Crypto Signal’s X Post
As long as the support line does not weaken, the HYPE price will be able to return back towards the midpoint of the trading channel around $45 and then focus on breaking the upper channel barrier, which will lead to an even higher target at $52. Otherwise, a break below the lower channel line will change the picture completely.
HYPE Technicals Point to a Bullish Recovery
According to TradingView, the HYPE price has started a gradual recovery from its fast drop towards the $20.00 level in February.
It has formed an evident uptrend, which develops along a strong ascending channel, where the HYPE price is supported by perfect consolidation of 20, 50, 100, and 200 EMA levels. This indicates that at the moment, buyers control the trend direction.
Source: TradingView
The HYPE is standing at $45.57 and approaching the upper level of the Bollinger Bands, along with the most recent swing high levels. The momentum remains healthy; however, the expanding Bollinger Bands indicate further volatility in the coming days.
A breach of the level $47.00 would be indicative of further growth, whereas a failure to do so might result in consolidation around the support level $42.00.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Hyperliquid Expands USDC Support Through AQAv2 Upgrade
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