In the last 24 hours, Hyperliquid [HYPE] experienced a notable price surge of 14.67%, reclaiming the $26 range—an area it had not visited since early January. This followed a brief decline of 6.09% over the past month.
Current market trends, along with a strong bullish alignment, pointed towards further upward momentum, positioning HYPE for ongoing gains in the upcoming weeks.
Approaching the Climactic Phase for HYPE
The final phase of the bullish flag pattern—a rally followed by consolidation and an ultimate surge in price—has commenced for HYPE. This traditional technical setup positions the asset for a potential breakthrough.
Since its inception, HYPE has skyrocketed by 257.03%, then underwent a consolidation phase within clearly defined support and resistance levels. Recent developments show HYPE breaking out of this range, stepping into the conclusive phase of the pattern.
Should the pattern hold, HYPE could mimic its initial surge, climbing approximately 113.8% more to reach around $48.3, thereby establishing a new record high.
Preliminary signs of this upward movement have already surfaced as HYPE breaches its consolidation threshold, indicating a bullish trend.
Yet, should HYPE fail to establish higher highs and higher lows, it might regress back into its consolidation stage.
CryptoCrypto’s evaluation underscores robust market sentiment and favorable metrics, suggesting that HYPE is more inclined to uphold its upward trajectory and continue achieving new highs.
Shifting Momentum as Key Signals Turn Bullish
Critical technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are currently displaying a bullish trend for HYPE.
The RSI, which gauges the pace and scale of price movements, has re-entered the positive territory above 50 for the first time since January 13th.
When the RSI remains above this level, it typically indicates heightened buying pressure and the potential for sustained price growth.
Meanwhile, the MACD has formed a golden cross—a bullish formation occurs when the blue MACD line surpasses the orange signal line.
This occurrence, as evident on the chart, suggests a strengthening upward momentum.
Should both lines cross into the positive region (at -0.051 and -0.161 at the time of writing), the bullish trend may intensify, supported by an escalating green histogram.
On-chain metrics additionally provided further affirmation of an improving sentiment.
Total Value Locked (TVL), a pivotal gauge of blockchain robustness and liquidity influx, has surged to $1.795 billion, up from the low of $1.559 billion recorded on January 19th.
This gradual upsurge in TVL signifies growing investor trust and hints at potential further successes for HYPE.
With the continuation of these trends, HYPE could sustain its upward drive as market sentiment sees continuous enhancements.