Hyperliquid (HYPE) is trading near $42 with strong bullish momentum, according to recent analysis. Key technical indicators show positive alignment, while over $3.26 million in short liquidations indicates pressure on bearish traders. The rising Relative Strength Index and volume suggest potential for continued price gains.
Hyperliquid’s HYPE token is trading near $42, displaying a steady uptrend backed by rising demand. Over $4.19 million in total liquidations occurred in the past 24 hours, with short positions accounting for $3.26 million of that sum.
Crypto analyst Sjuul stated, “I have been repeating this for a while now: $HYPE looks really good on high time frames!” He described the price action as a “beautiful bullish structure” of repeated higher lows and higher highs.
A chart shows the 20-day Exponential Moving Average positioned above the 50-day EMA, which is above the 200-day EMA, confirming a strong bullish trend. The Relative Strength Index is at 66, not yet indicating an overbought condition.
The Moving Average Convergence Divergence shows a positive crossover with its signal line trending upward. Recent trading volume has reached nearly 280 million, indicating increased investor participation.
A liquidation heatmap reveals strong liquidity clusters between $41 and $43, which could act as short-term resistance. The largest single liquidation event reached approximately $838,000 during periods of high volatility.
