Usman Salis
Hyperliquid has been gaining attention from traders as it maintains its position above key support levels while building momentum for a potential upward move. With the token showing resilience in recent trading sessions and technical patterns aligning favorably, analysts are focusing on the next major resistance level that could unlock significant price appreciation.
HYPE Price Holds Key Support Levels
Hyperliquid is currently trading around $44.13, up 2.38% for the day. This price level has become a solid foundation for the token, and traders are now watching the $51 resistance level closely. If HYPE can break through this barrier, it could spark a strong rally.
Popular analyst recently noted that the monthly chart looks really promising for continued bullish action. The technical picture shows clean higher lows, strong alignment of the 50, 100, and 200 moving averages, plus healthy trading volume above 464K HYPE - all good signs for potential upside.
What's Next for HYPE Price?
If buyers can push HYPE above $51 and hold it there, we could see the token move toward $55-$60 pretty quickly. On the flip side, support sits at $43.99, with stronger backup support at $36.92. While a drop below these levels could lead to some pullback, the overall mood around HYPE remains positive.
With strong momentum building and traders getting more confident, Hyperliquid could be setting up for its best monthly run yet.
Conclusion
Hyperliquid appears well-positioned for a potential breakout, with key technical indicators and market sentiment aligning in favor of the bulls. The $51 resistance level represents a crucial test that could determine whether HYPE can achieve its near-term targets of $55-$60. While support levels provide some downside protection, the current setup suggests that buyers are in control. Traders should watch for volume confirmation on any breakout attempt above $51, as this could be the catalyst that drives HYPE toward its next major rally phase.
Usman Salis
