Hyperliquid’s HYPE token traded near $43.66 on April 17, showing consolidation after a minor daily decline. Key support at $35 remains crucial for the asset’s bullish structure, according to technical analysis. The token trades above all major moving averages, suggesting sustained momentum as it tests resistance near $46.
Hyperliquid’s HYPE token is consolidating despite broader market fluctuations. According to CoinMarketCap, the asset declined 2.43% over 24 hours but maintained a 6.09% weekly gain. It traded at $43.66 with a market capitalization of $11.15 billion.
Crypto analyst Scient revealed on X that HYPE has shown resilience around a key daily support and resistance zone. Price action here is crucial, as the market decides whether momentum continues or short-term pressure leads to a deeper retracement in the near term.
The analyst stated the best-case scenario involves consolidation above the $35 support zone. As long as that level holds, the overall outlook remains positive and may set a foundation for sustainable growth later this year.
Technical indicators from TradingView confirm a bullish pattern, with price above all key Exponential Moving Averages. The 20-EMA at $42.10 provides dynamic support, while the 50-EMA at $39.84 offers further downside protection.
Volatility is increasing as Bollinger Bands widen, with the price testing the upper band. Maintaining levels above the EMAs is viewed as necessary for a potential move toward the $46 resistance level.
