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Following
HYPE Hyperliquid's native token HYPE has continued to be traded in key support areas in recent days. Analysts believe that holding the $53 level is crucial to maintaining the upward trend. If it can stabilize above this support level, prices may first hit US$64, and then it is expected to start a new round of upward movement towards the US$75 range.
HYPE is testing key support areas
As of writing, HYPE was trading at US$52.25. Technically, the most critical price point is about $53. This region forms the lower track of the current upward channel and plays a decisive role in the short and medium term direction of prices. Analysts pointed out that holding $53 is crucial for bulls to maintain control. On the contrary, if this support is lost, selling pressure may intensify and prices risk withdrawing to lower support levels.
Cryptocurrency analyst Ali Charts pointed out that HYPE prices are at the lower boundary of the upward channel and it is crucial for buyers to defend the area. According to Ali Charts analysis, if HYPE can hold on to the key channel support near US$53, it may first test the US$64 resistance level and then retest the upper channel area of about US$75. On the contrary, if the US$53 support falls short, short-term selling pressure may strengthen again and the bullish scenario may weaken.
Overall market sentiment remains cautious
Hyperliquid remains one of the projects with the highest transaction volume on the decentralized perpetual contract platform. The latest data shows that the platform's Open Interest is US$10.6 billion, and the 24-hour trading volume is US$13.5 billion, of which HYPE's 24-hour trading volume exceeds US$370 million. These data indicate that investor interest remains strong and platform liquidity remains high. Although transaction volume and user activity in the Hyperliquid ecosystem remain strong, caution remains prevalent in the overall cryptocurrency market.
Summary
HYPE continues to be in a key support area on the technical side. Holding the $53 level is the key to regaining upward momentum in prices. If it can stabilize above this support, the first target may be $64, followed by a look at $75. However, given the cautious overall cryptocurrency market sentiment, investors need to pay close attention to trading volume, open interest data and market sentiment indicators.
