- HYPE trades at $36.65, up 77% monthly, showing strong uptrend with support near $33–$34 and resistance around $37.50–$40.00.
- RSI at 65.75 and MACD histogram turning negative suggest weakening momentum despite price staying above the 50-day MA.
- If HYPE breaks $37.50, it may test $38.50–$39.50; failure to hold $34.30 support could lead to a drop toward $32.00.
Hyperliquid (HYPE) has shown sustained strength since mid-April, with its price moving from below $15 to near $40. On June 5, at press time, HYPE was trading at $36.65, up 1.47% in 24 hours and 77.33% over the past month.
Market capitalization is at $12.24 billion, a 1.46% gain, while trading volume increased to $323.91 million. The price had a high of $36.993 and a low of $35.707, showing modest daily movement.
Strong Uptrend Establishes New Support Levels
HYPE’s upward momentum has continued for nearly two months, supported by consistent higher highs and higher lows. During this period, the price surged from under $15 to a recent high near $39.47.
Notably, a pullback near the $39–$40 area led to the formation of a potential base around the $33–$34 region. Technical indicators show the RSI at 65.75, slightly below the overbought levels.
It recently touched 70.08 before pulling back, indicating a small cooldown. MACD shows the MACD line at 3.077, below the signal line at 3.223. The histogram is at –0.146, pointing to a weakening bullish momentum.
Indicators Suggest Controlled Consolidation
Volume data indicates caution among buyers. Trading volume is at 107.45K, slightly lower than during previous rallies. Still, activity remains high. Meanwhile, the 50-day moving average, now at $34.31, acts as a dynamic support zone. HYPE continues to trade above it, indicating bullish control in the short term.
The 200-day moving average is at $28.26 and slopes upward. This supports the continuation of the long-term bullish trend. However, the growing gap between the price and the 200-MA suggests a potential overextension, often followed by correction or consolidation phases.
Resistance Near $37.50 Faces Testing
The $35–$36 zone is being defended by buyers. Resistance near $37.50 could be the next target, provided trading volume holds. If buyers reclaim momentum and push past recent highs, the price could revisit the $38.50–$39.50 range.
A break above $40.00 would indicate a renewed uptrend. However, if the MACD drops further and RSI weakens below 60, a decline toward the $33.00–$34.00 region could follow. Failure to hold above the 50-MA may push the asset further toward $32.00.
The 200-MA at $28.26 provides the next strong support.On the upside, a move above $37.50 may send HYPE to $38.50–$39.50, with potential to challenge the $40.00 level. However, if price falls below $34.30, it could decline toward $33.00 or even $32.00 in the short term.
HYPE is in a strong uptrend, holding above key averages. Indicators show momentum may cool, but support is still strong.
