The native token of the Hyperliquid decentralized exchange, HYPE, is trading at $41.42 with a weekly gain of over 20%. Analysts attribute the bullish momentum to structural technical reversals and the platform’s expanding utility through new asset offerings. They identify the $33–$34 price zone as critical short-term support for a potential continuation toward higher targets.
The Hyperliquid ecosystem token HYPE is exhibiting strong bullish momentum, trading at $41.42 with a 24-hour gain of 1.07%. This price reflects a significant 20.75% increase over the past week, even as 24-hour trading volume dipped to $422.1 million.
Analyst Momin attributes the surge to the platform’s HIP-3 initiative, which broadens access to assets like oil futures. “This kind of expanding utility attracts traders seeking diversified exposure,” Momin stated.
Technical analysis indicates a clear shift from a prolonged downtrend to bullish momentum. The token has broken through previous resistance, with the $33–$34 region now serving as a key support level.
Maintaining support above this zone is considered crucial for a potential move toward the $49–$51 range. Current consolidation below resistance is viewed as a healthy market development.
Analyst CarpeNoctom points to Fibonacci levels for forecasting future price action. The token has surpassed the 0.5 Fibonacci level at $35.06, confirming the bullish structure.
The previous high near $59.52 represents the next major resistance level for HYPE. Extension levels project much higher long-term targets if the current momentum is sustained.
Traders are watching for a confirmed breakout above the $59.52 level to signal continued upward movement. Conversely, a fall below the $35.06 support could indicate a deeper market pullback.
