Hyperliquid price analysis suggests bullish strength and more scope for upside pending.
The HYPE price held $15 support and showed a sudden bounce. Hyperliquid price analysis says bulls are back and getting ready to push the price to a new swing high. It jumped 10% in the last 24 hours with a massive buying volume, denoting buying momentum in the HYPE price. On a 4-hour time frame, Hyperliquid took support on 50-EMA level and buyers succeeded in giving a bounce. The price surge of the HYPE token looks genuine and reliable. So, the price might reach $20 in the upcoming session if it gets more buyers support.
According to CoinMarketCap data, at the time of writing Hyperliquid price is trading at $16.52 with an intraday surge of 10%, indicating buying momentum. The volume-to-market ratio is 5.2%. Furthermore, the market cap is $5.53 billion, and the 24-hour trading volume is $142 million.
Will HYPE Price Hit the $20 Mark?
Source:
Tradingview
Hyperliquid (HYPE) price trading above 50-day and 200-day EMA levels in the 4-hour time frame. This suggests a bullish trend. A bullish crossover is also seen between the 50-day and 200-day EMA levels, pointing to a bullish trend. The technical chart structure of HYPE has turned bullish, and bulls are looking more aggressive than bears. New buyers seem to be building long positions, which may fuel the rally.
If the buyers succeed in surpassing the $17.00 barrier, the next phase of the rally may trigger. However, if the coin loses momentum near current levels, it retraces down and tests the 50-day EMA again.