HYPE Nears Breakout — Could $50 Be the Next Stop?

HYPE surges 27%, approaching key $47 level that could trigger a breakout.

TVL hits record high, signaling strong investor confidence in continued growth.

Bulls dominate positions, eyeing $50 target if momentum holds above support.

Hyperliquid's HYPE has been on fire lately. In just one week, the token surged 27%, sending traders and analysts into overdrive. The price recently tapped the upper Bollinger Band, a technical zone often associated with heightened volatility. Yet instead of cooling enthusiasm, the move has intensified speculation. Some see $50 within reach. Others whisper about $60 or even $100. The question now is whether this rally still has room to run.

Price Action Points to Strength

At press time, HYPE traded at $45.50 after a 4.5% jump in 24 hours. Trading volume spiked 15% as investors piled in. The surge follows a clear uptrend that began in May, supported by an ascending trendline. This latest rally pushed the price straight to the Bollinger Band’s upper boundary. Historically, hitting this level has led to selling pressure and brief corrections. A similar pullback now could shave off about 13% before another leg higher.

Technical indicators lean toward optimism. The Relative Strength Index sits at 60, far from overbought. This suggests space for more upside. The chart structure, combined with steady volume growth, hints at sustained momentum rather than a fleeting spike. Predictions on X (formerly Twitter) have only added fuel to the fire. Influential analysts are calling for a break to $50, followed by $60. The boldest forecasts stretch to $100.

TVL Milestone Signals Strong Confidence

A prominent smart contract developer recently pointed to another bullish signal. HYPE’s Total Value Locked has reached a new peak. This milestone reflects increased trust from investors who are committing capital for the long haul. In the world of DeFi, TVL growth often acts like a vote of confidence in a project’s future. On the trading front, open interest reveals where the battles might unfold.

Major liquidation zones sit at $44.25 on the downside and $47 on the upside. Traders are heavily positioned in these areas, with bulls clearly dominating. Over the last day, $10.91 million flowed into long positions versus $3.33 million into shorts. Such positioning can act as both fuel and risk. If bulls defend $44.25, momentum could spike, sending the price straight to $50. A failure to hold that zone, however, might trigger a quick flush before any rebound.

The market now watches closely. With TVL climbing, traders over-leveraged, and technical patterns aligning, HYPE sits at a critical juncture. The next few daily closes could decide whether this rally pushes to $50 or pauses for breath. HYPE’s recent run has been nothing short of electric. Price action, TVL growth, and trader positioning all point toward a possible breakout.

HYPE-3.69%
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