Is It Too Late To Buy HYPE? Hyperliquid Price Soars 38% And This Might Be The Next Crypto To Explode
The Hyperliquid price soared 38% in the last 24 hours to trade at $12.15 as of 11:27 p.m. EST on trading volume that plunged 4% to $242.9 million.
Hyperliquid Price On A Progressive Upward Trend
After its launch less than a week ago, the Hyperliquid price has been in a continued surge, despite having traded within the $9 range in the past 3 days.
The consolidation within this range allowed the price of Hyperliquid to soar, forming a parabolic curve.
The price of HYPE is now trading at $12.15, well above the 50-day Simple Moving Average (SMA), confirming bullish momentum. The breakout is supported by a significant volume spike, indicating strong buying pressure.
The Relative Strength Index (RSI) also supports the rising pressure, which has already crossed above the 70-overbought region, currently at 78.
Meanwhile, the Moving Average Convergence Divergence (MACD) blue line (0.8381) is significantly above the orange signal line (0.5843), and the histogram shows increasing positive momentum.
If the breakout sustains, the next significant target lies around $14.00. The trend remains bullish as long as the price stays above the 50-day SMA and volume remains high.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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