HYPE's Price: Will It Soar to $17 or Just Flop? Find Out! 🚀💸

Ah, HYPE! Like a phoenix, it rises, ready to challenge the mighty $17.15 resistance, perhaps to turn it into a cozy support.
Behold the liquidation map! A veritable jungle of short liquidations, denser than a politician’s promises!

Once upon a time, in the land of Hyperliquid [HYPE], the Total Value Locked (TVL) plummeted from a staggering $636 million in early March to a mere $230 million a month later. What a fall from grace! 📉

What caused this mass exodus, you ask? Well, it was none other than the infamous JELLY saga, where the Hyperliquid platform danced a delicate tango with disaster.

In a heroic act, the platform saved its Hyperliquid Provider vault, wiping away the negative PNL like a bad memory, all thanks to the JELLY manipulation and a trader’s long liquidation that Hyperliquid had to adopt like an unwanted pet. 🐾

But alas, questions arose! Was their course of action legal? And what about the decentralization of Hyperliquid? The crowd murmured, eyebrows raised.

HYPE Could See a Short Squeeze in the Near Term

Fear not! The trading volume of the platform remained robust, like a bodybuilder at a buffet. This meant that the demand for HYPE was as healthy as a horse! 🐴

With a breakout above the descending channel last week, HYPE has erased all the losses it suffered after the 24th of March. Talk about a comeback! 💪

As it approaches the $17.15 resistance, which marks the swing high before the descent, the 12-hour chart reveals a bullish structure, climbing above the lower high at $12. A true underdog story!

Thus, the 1-day and lower timeframes are bullish, and if HYPE breaks past $17.15, it could signal another leg higher for the Hyperliquid token prices. But hold your horses! This is contingent on Bitcoin [BTC] keeping its cool.

The A/D of HYPE has reached new heights, soaring beyond the March highs, while the RSI is above 60, signaling strong upward momentum. Up, up, and away! 🚀

However, the liquidation map warns of potential short-term volatility. The short liquidations overhead are like a ticking time bomb, with higher leverage positions lurking closer to the price.

Specifically, the $17, $17.3, and $17.45 levels are short-term targets, thanks to high leverage liquidations clustering like bees around honey. 🍯

Traders, beware! A false breakout past $17.15, driven by short liquidations, could reverse faster than a politician’s stance. A retest of the $17 zone as a demand level might just present a golden opportunity for traders. 💰

Keep a close eye on BTC’s movements, for it will be crucial in understanding the market’s mood and confirming the potential price direction. Happy trading!

2025-04-18 00:10

HYPE’s Price: Will It Soar to $17 or Just Flop? Find Out! 🚀💸

HYPE Could See a Short Squeeze in the Near Term

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