With an impressive monthly return of over 22%, Hyperliquid (HYPE) has significantly outperformed top altcoins in the cryptocurrency market. This stellar performance has sparked growing interest from top investors and institutions, raising questions like, “Is Hyperliquid a good investment?” and “How high can HYPE price realistically go?” In this article, CoinPedia analyzes market sentiment and presents a short-term price forecast for Hyperliquid.
Hyperliquid Price Records Impressive Bullish Action
Hyperliquid’s price has displayed robust bullish momentum, rising 7.12% in just 24 hours, accompanied by a trading volume of $157.74 million. Over the past seven days, HYPE has gained 12.91%, and in the last 30 days, it has surged 22.16%. With a year-to-date (YTD) return of +13.79% and a market capitalization of $9.081 billion, Hyperliquid is currently ranked 19th among cryptocurrencies.
The recent price action is supported by the EMA 50/200-day Golden Cross, signaling a bullish trend where buying pressure outweighs selling activity. Furthermore, the Moving Average Convergence Divergence (MACD) indicator reflects a consistent green histogram, reinforcing the strength of the upward momentum. The convergence of moving averages further suggests that Hyperliquid may continue to climb in the near future.
How High Can HYPE Price Go?
If the current bullish trend persists, HYPE may retest its immediate resistance level at $29.90. Maintaining the price above this level could propel Hyperliquid toward its next price target of $35.50 by the end of the month. However, in the event of a bearish reversal, the price could test its support at $24.30, and a deeper downturn may push the price to as low as $18.25.
Also Read: Hyperliquid (HYPE) and SUI Surge: Price Analysis, Bullish Outlook, and What’s Next for Both Tokens
With sustained bullish indicators and strong market sentiment, Hyperliquid’s price outlook remains positive in the short term. Investors are keenly watching whether the coin can hold its ground and continue its ascent in the dynamic cryptocurrency market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
