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Hyperliquid (HYPE/USDT) Sees Strong Bullish Momentum Amid Rising Volatility

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Hyperliquid (HYPE/USDT) Sees Strong Bullish Momentum Amid Rising Volatility

Hyperliquid against Tether has risen more than 0.55% despite the broader market’s 0.47% dip in recent times. The pair’s price has gone up by 31.8% on the weekly chart, which appears to have been propelled by platform modifications and strategic collaborations.

As it stands, technical indicators on the daily chart suggest that more bullish action is to come, despite the sell pressure around the immediate resistance level.

Currently, Hyperliquid trades at $48.789 with more than 168K volumes for the day and a market capitalization worth $15 billion.

Hyperliquid (HYPE/USDT) Sees Strong Bullish Momentum Amid Rising Volatility
HYPEUSDT-Daily Chart

Technical Indicators

Major Resistance Levels: $49.977, $50.000, and $52.000

Major Support Levels: $46.101, $43.459, and $40.000

Technical Analysis

Hyperliquid against Tether on the daily timeframe appears to be bullish, as seen in the sharp increase in price several weeks of correction. The Guppy Multiple Moving Averages (GMMA) and MACD seem to be in support of this stance, as the volume reinforces bullish momentum.

As it stands, Hyperliquid seems to be heading into the $50.000 level, which requires the price to receive strong and constant momentum for continuity. However, a fall from the current level may reverse the gains.

Meanwhile, @Ryanwatkins has given it all for Hyperliquid in terms of revenue generation despite the current market condition, as the token appears to be doing well, claiming 33% of total blockchain revenue.

HYPE/USDT Analysis: Can the Bulls Sustain Momentum?

On the 4-hour timeframe, HYPE/USDT shows a consistent bullish trend with the price tending towards an important resistance and a smooth transition from bearish to bullish territory. This confirms the market strength as the MACD crosses the signal, even though a green histogram is yet to be spotted.

To this end, price action in this timeframe appears to be volatile, suggesting the bulls’ dominance will be put to the test, and a reversal beyond $43.600 may invalidate the current analysis.

Hyperliquid (HYPE/USDT) Sees Strong Bullish Momentum Amid Rising Volatility
HYPEUSDT-4H Chart

 

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