Hyperliquid (HYPE) is moving in an upward direction and is eyeing a surge in its value against the overall market conditions. HYPE is currently holding the middle band above $44 with strong efficiency. The momentum from this point may lead to its new all-time high above $49.5.
At the time of writing, HYPE is trading at $46.18 with a 24-hour trading volume of $356.49 million and a market capitalization of $15.41 billion. The HYPE price over the last 24 hours is up by 3.99%, and over the last week it is also up by 5.96%, showing high potential for the next major rally.
HYPE price eyes $49.5 breakout as bulls regain control
A prominent crypto analyst, Ant, highlighted that HYPE continues to stand out among the cryptocurrencies after displaying strength when most others continue to consolidate. The token briefly stopped its decline near the middle Bollinger Band level of $44, an important technical level that had held strong support on past retracements. This rate of stabilization indicates sellers continue to lose steam after buyers re-enter the market to protect the rate.
Adding weight to this reversal, the Relative Strength Index (RSI) fell to 25, solidly in oversold status. That low a reading tends to be an indication that the selling pressure had been excessive and ripe for a swift bounceback. HYPE tended to react forcefully to such RSI declines in the past, turning this technical setback into a possible buy signal.
Presently, the token is on its fourth try to move north of the top Bollinger Band, eyeing a key resistance zone ranging from $45.8 to $49.5. If bulls manage to breach the cluster, then the way forward opens toward a new rally; consequently, this could catapult HYPE into price discovery while also establishing a new all-time high.
Moreover, the current timing aligns with the wider market bounce back, as risk appetite across the crypto sphere is gradually beginning to return. Provided sentiment continues to improve, HYPE’s solid technical scenario puts it among the top contenders to spearhead the next run-up wave, something bulls would love to see materialize.
