HYPE Gains 6% Amid Signs of Bullish Reversal
The Essentials at a Glance
- HYPE saw a 6% price increase after another test of the demand zone around $30.67.
- Technical indicators such as the Stochastic RSI and the long/short ratio suggest a possible trend reversal.
- The market is showing bullish signals, but a breakout above the $40 mark depends on continued buying pressure.
HYPE Shows Strength After Third Test of the Demand Zone
Over the past two weeks, the altcoin Hyperliquid (HYPE) has repeatedly tested the demand zone around $30.67. Each time, it triggered a significant upward reaction. Most recently, the price rose by 6% within 48 hours. These repeated reactions indicate strong support from buyers in this area.
Technical Indicators Point to a Trend Reversal
A look at the daily chart shows: The Stochastic RSI – an indicator used to identify overbought or oversold market conditions – is currently in the oversold zone. Historically, this area has often led to price reversals for HYPE, especially when accompanied by buying pressure.
On-chain data also confirms the positive trend. The 90-day Cumulative Volume Delta – a measure of the ratio between buy and sell volume – shows increasing dominance on the buyer side. This suggests sustained interest and growing demand.
Market Sentiment Remains Cautiously Optimistic
The long/short ratio currently stands at 1.04. This means there are slightly more long positions (bets on rising prices) than short positions. Even though the difference is small, it can be enough to trigger short-term price movements in a volatile market like cryptocurrencies.
Will HYPE Break Through the $40 Mark?
Current data suggests that HYPE could once again attempt to break through the resistance level at $40. However, this requires trading volume to continue increasing and buying pressure to remain strong. Otherwise, the price could fall back into the $30 to $32 range before making another attempt.
Our Assessment
HYPE is currently showing clear bullish signals. The combination of technical support, positive market sentiment, and a dominant buyer side points to further upside potential. Nevertheless, traders and investors should monitor developments closely. The area around $40 represents a key resistance level. Without sustained buying pressure, the price could correct again.
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Those who are invested in HYPE or planning to enter should pay attention to volume trends and short-term market impulses. A breakout above $40 is possible, but not guaranteed. Strategic risk management remains essential.
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