HYPE’s price hits key level, but is $50 REALLY on the way?
Key Takeaways
Consultants consider HYPE may hit a brand new ATH within the coming days. The main liquidation ranges of $44.25 on the decrease aspect and $47 on the higher aspect are nonetheless value although.
Over the previous week, Hyperliquid (HYPE) has registered a formidable 27% uptick, with its worth hitting the higher Bollinger Band on the charts. Regardless of this potential pink flag although, consultants and traders proceed to indicate robust curiosity and confidence within the asset.
Predictions and worth momentum
On 11 August, a number of bold predictions surfaced on X (previously Twitter). Some consider HYPE’s cool-off section is over and that it’s on the street to $100, whereas others predict its subsequent cease might be $50 after which, $60. In the meantime, some additionally assume that HYPE could also be able to make a brand new all-time high.
These predictions on X have gained widespread consideration, reflecting consultants’ rising curiosity and confidence within the asset’s potential within the coming days.
At press time, HYPE was valued at $45.50, up 4.5% over the previous 24 hours. This spectacular efficiency has sparked better participation from traders and merchants, resulting in a 15% surge in buying and selling quantity.
Hyperliquid (HYPE) worth motion and technical evaluation
AMBCrypto’s technical evaluation revealed that the asset has been on an uptrend, constantly taking assist from an ascending trendline for the reason that starting of Might 2025. This modified considerably after the altcoin’s worth appreciated by over 27% over the previous week.
Due to this rally, HYPE’s worth climbed to hit the higher boundary of the Bollinger Bands. This prompt that whereas robust bullish momentum could also be backing HYPE, a worth correction could also be incoming earlier than the following leg up.
Supply: TradingView
Traditionally, each time HYPE’s worth hits the higher boundary of the Bollinger Bands, it tends to face promoting strain and subsequent draw back momentum. If this sample repeats itself, the altcoin may see a short-term decline of round 13% earlier than the rally resumes.
Quite the opposite, if the upside momentum continues and the worth closes a day by day candle above the $47-level, it may hit a brand new excessive.
On the time of writing, HYPE’s Relative Power Index (RSI) stood at 60, indicating that the asset was nicely under the overbought territory. It would simply have sufficient room to proceed its uptrend.
HYPE’s TVL and merchants’ over-leveraged ranges
Given the prevailing market sentiment, a well-followed smart contract developer shared a put up on X highlighting HYPE’s Complete Worth Locked (TVL).
The knowledgeable famous that HYPE’s TVL has climbed to a brand new excessive already. In response to him, traders are strongly recognizing and trusting the asset, which may probably set off additional upside momentum.
Supply: X (Previously Twitter)
Alongside these predictions, HYPE’s worth motion and rising TVL point out that the most important liquidation ranges merchants are specializing in are $44.25 on the decrease aspect and $47 on the higher aspect.
These ranges characterize not solely vital liquidation zones, but additionally areas the place merchants could also be closely over-leveraged.
Supply: Coinglass
Over the previous 24 hours, they’ve constructed $10.91 million value of lengthy positions and $3.33 million in brief positions. To place it merely, bulls have been in management.
