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Following
HYPE Hyperliquid's native token HYPE has risen again, rising by 2.25% in 24 hours.
Hyperliquid's native token HYPE has risen by 2.25% in the past 24 hours. The current trading price is US$58.80, which has once again closed up on the daily line. The daily trading volume of the token reached US$325.5 million, and its market value simultaneously increased to US$14.86 billion, accounting for 0.67% of the total market value of the entire cryptocurrency market.
Analysts: Uptrend line becomes a key turning point
Cryptocurrency analyst Cryptorphic pointed out that HYPE continues to test an uptrend line during the recent rise, which is receiving market attention. Analysts believe that this trend line is an important technical indicator. The market is still in the consolidation stage after falling back from recent highs, and the price trend has always remained stable above this support level.
The momentum on the trend line suggests that HYPE is expected to retest the $70 to $74 range if buying activity strengthens. If this area is breached, it may further strengthen market bullish sentiment.
Analysts are optimistic about the outlook, believing that prices will continue to stick to the uptrend line and that if market participation increases, there is a possibility of rising again.
Focus on the US$50 - 55 support range
The US$50 - 55 price range has become the most important support area for HYPE. So far, prices have remained above this level, which analysts believe proves that buyers still have the initiative after the recent correction.
If the token falls below $50, some analysts believe it could undermine the current bullish structure and could trigger a deeper correction before a rebound attempt occurs. Conversely, if prices remain above support, the upward momentum is expected to continue.
In addition to short-term resistance, analytical forecasts show that HYPE is expected to target $100 if current user activity is maintained. Cryptorphic pointed out that further strengthening buying momentum could lay the foundation for a long-term price rise to $120. However, these goals require the token to break through the $70 to $74 resistance range and maintain support at new highs.
Key Levels and Price Range
Main Support: US$50 - 55 (If you hold, you will be bullish; if you break below, you will be bearish)
Immediate resistance: US$70-US$74 (requires a breakthrough to go up)
Medium-term target: US$100 (Depending on continued activity)
Long-term target: US$120 (achievable with continued bullish momentum)
Hyperliquid's growth and market impact
Hyperliquid has quickly become the leading decentralized perpetual contract trading platform, attracting the attention of a large number of online activities and traders. Strong transaction volume and growing market value have consolidated the important position of its native token HYPE in the digital asset field.
As of now, HYPE prices are still above key support areas, and the bullish trend has been maintained. Buyers need to push the token beyond the $70 - 74 resistance to open a clear path to $100, and if optimism continues, it is expected to climb further to $120.
Price movements around $50 to $55 will be decisive for HYPE's next major trend. If the closing price is firm above this level, it may confirm that buyers are still dominant after the recent market correction.
