Hyperliquid Price Surges 50% in 16 Days! Can It Hit $35 Next?
The post Hyperliquid Price Surges 50% in 16 Days! Can It Hit $35 Next? appeared first on Coinpedia Fintech News
Amid increased price volatility in the cryptocurrency market, the Hyperliquid price has successfully regained momentum by adding ~50% in 16 days. With this, this altcoin has outperformed the market leaders this week, further highlighting increasing positive action in the coming time.
Following this, investors are curious with questions like “Is Hyperliquid a good investment?” and “How high can HYPE price go?” In this article, we bring you the market sentiments and possible short-term Hyperliquid Price Analysis!
HYPE Coin Records Increased Price Action This Week!
The price of Hyperliquid has added over 12% to its valuation in 24 hours with a trading volume of $248.49 million, a change of +68.96%. Moreover, it has soared 11.72% in seven days and has a YTD return of 9.62%. This hints at a rising bullish influence for the altcoin in the market.
Despite recording a sharp rise in the daily time frame, the Relative Strength Index (RSI) has displayed a strong bearish reversal below the overbought range in the Hyperliquid price chart. This suggests an increase in the price action for the altcoin in the crypto market.
Furthermore, the Moving Average Convergence Divergence (MACD) shows a constant rise in the green histogram with its averages displaying a potential bullish convergence. This indicates that the 21st largest cryptocurrency may continue gaining value this week.
Will HYPE Price Rise Back Up?
The Hyperliquid price may retest its immediate resistance level of $29.90 if the bulls regain momentum. Maintaining the price above that level could set the stage for this altcoin to head toward its upper high of $35 in the coming time.
On the contrary, if the bears outrun the bulls, the Hyperliquid price may retest its support level of $24.30. Furthermore, if the bearish sentiment intensifies, the HYPE coin price could retest its lower support trendline of $18.25.
Are you wondering about the long-term prospects of this Layer-1 project? Read Hyperliquid Price Prediction!
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