In a universe where major tokens are floundering like fish out of water, Hyperliquid has decided to throw caution to the wind and attract a buying volume that could make a black hole jealous. It has boldly gone where no token has gone before, smashing through barriers and reaching a new all-time high (ATH) above $44. But wait! Just when you thought it was safe to invest, the token is experiencing a slight retracement. Fear not, dear investor, for the price remains above the all-important support level, suggesting that the HYPE price might just have more room to rise than a Vogon poet’s ego. The next target for this rally appears to be a tantalizing $50, but will Hyperliquid glide there as effortlessly as a pan-galactic gargle blaster? 🤔
Why is the Hyperliquid Price Rising?
The HYPE token has taken the crypto world by storm, dominating the top 15 cryptos with a mind-boggling 12.4% weekly gain and a staggering 67.2% monthly surge. How, you ask? Well, it seems that Hyperliquid’s decentralized exchange has attracted a veritable migration of traders, lured by its superior perpetual futures offerings that make centralized platforms look like they’re still using dial-up. Rumor has it that a whale, not the kind that sings but the kind that spends, has driven the HYPE momentum by leveraging a whopping $11.15 million. Meanwhile, the Hyperliquid monthly perps volume and futures open interest continue to rise like a soufflé in a zero-gravity kitchen. 🐋
Will HYPE price reach $50 in the next 24 hours? Only time will tell, and time is notoriously unreliable.
As illustrated in the chart above, the HYPE price has been on a healthy ascending trend since it rebounded from the depths below $10, like a phoenix rising from the ashes of bad investments. The token has been consistently printing higher highs and lows, suggesting that the bulls are firmly in control of this rally. The CMF, however, has been maintaining a steep bearish trend, despite the price remaining elevated—like a cat that refuses to acknowledge its own reflection. But now, the levels are displaying a bullish divergence and are about to rise above 0, indicating that the trend might just be ready to change from bearish to bullish. 🎉
On the flip side, the RSI has reached overbought levels, and despite a pullback, it remains within the range—like a stubborn toddler refusing to leave the playground. This suggests that the Hyperliquid price is primed to maintain a steep ascending trend and eventually stay in the discovery phase. The next target could be at the 1.2 FIB levels above $50, around $52. So, buckle up, because this ride is just getting started! 🚀
Read More
2025-06-12 22:07