Key point:
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Corporate treasury buying could do wonders for sentiment, sending HYPE soaring past its $50 resistance level. 🌕
On a rather dull Monday (or was it?), Nasdaq-listed biotech Sonnet BioTherapeutics casually announced it had partnered up with a new entity, Rorschach—oh, the drama of names!—to launch a Hyperliquid (HYPE) digital asset treasury. Are you still awake? Because this news could turn out to be the financial equivalent of an espresso shot in a sleepy market.
When the deal wraps up, Hyperliquid Strategies Inc. plans to stash 12.6 million HYPE tokens and a cool $305 million in cash. But wait! The cash won’t just sit there like your grandmother’s knitting. It will be used to scoop up even more HYPE tokens, ensuring the frenzy is well-fed. Oh, the anticipation!
But enough of the corporate circus. Could HYPE actually make a move after launching this digital treasure trove? Let’s consult the charts, because who wouldn’t trust lines and squiggly figures over actual logic?
HYPE price prediction (the thrilling saga continues)
Ah, Monday. The day HYPE took a valiant swing at the psychological $50 level—only to retreat like a knight with a bruised ego. Yet, take heart, dear reader, for the bulls haven’t let go just yet. They might just have a few tricks up their hooves. 🐂
It’s worth noting that the upsloping moving averages and the RSI, that trusty indicator of buyer enthusiasm, are lingering near overbought territory. Buyers, dear friends, are in charge—for now. If the price rebounds off $45.80, it’s a clear sign that the bulls have converted the $45.80 level into a supportive cushion. From there, they may very well aim to break through the sacred $50 level. Will they? Will they not? The suspense is palpable. If the stars align, $60 could be the next target. ✨
But every story has its villains. Sellers, those dastardly fiends, will try to wrest control if they push the price below the 20-day exponential moving average (currently sitting at $42.93). Should that happen, the bullish momentum might weaken, and the saga could come to an unceremonious halt. If the price dips below the 50-day simple moving average ($38.86), the bears will certainly declare victory—at least for the time being.
At this very moment, the HYPE/USDT pair is locked in a fierce battle. Bulls and bears are slugging it out near the 20-EMA on the 4-hour chart. With the 20-EMA flattening like a pancake, and the RSI hovering just above neutral, the power balance is still too close to call. 🥞
The bulls need to drive the price above $50 to claim their prize. If they succeed, we might just see a climb to $60. But beware! If the bears manage to drag the price below the 50-SMA, a correction to $41 might be the bittersweet conclusion of this chapter. Grab your popcorn! 🍿
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2025-07-17 01:36