- HYPE gained by 61.83% in a month, reaching $39.29, driven by rising volume and strong technical indicators.
- The token is testing $39.50 resistance; a breakout may push it toward $41.50–$42.00 if momentum continues.
- Volume surged by 145.94% to 374.72M HYPE, while the A/D line and moving averages confirm bullish trend strength.
HYPE has continued its upward movement into June, gaining strong momentum over the past month. On June 10, at the time of writing, the token was trading at $39.29, an 11.46% increase in 24 hours.
Weekly gains are at 8.69%, while the monthly rally now totals 61.83%. Market cap rose to $13.12 billion, an 11.42% increase. Circulating supply is at 333.92 million out of a 1 billion max supply. Trading volume also surged, rising by 145.94% to reach 374.72 million HYPE.
These price and volume movements show increasing market interest, which appears to be building on bullish trends seen since mid-April.
Technical Indicators Show Sustained Upward Pressure
Price action remained strong in June, with HYPE moving between $38.43 and $39.60 in the past 24 hours. The daily high is just below key resistance at $39.42, which aligns with the upper Bollinger Band. HYPE is testing this level, which could indicate a potential breakout if momentum holds.
Bollinger Bands show the upper limit at $39.42, middle at $35.09, and lower at $30.76. The 20-day SMA, now a dynamic support, is near the middle band. Since early May, the price has maintained distance above this moving average, supporting the bullish outlook.
Volume also supports the current trend. Around 221,700 HYPE tokens were traded matching the increased interest shown in the price surge. The Accumulation/Distribution (A/D) line is at 6.1 million, showing steady buy pressure.
Moving Averages Confirm Mid-Term Strength
Momentum has been driven by several technical confirmations, including the Golden Cross formed in late April. The 50-day moving average, now at $35.53, has risen consistently and acts as a support level. Price remains firmly above it.
The 200-day moving average, at $30.94, has started to trend upward, confirming a change in the long-term trend. Since April, HYPE has had higher highs and higher lows, indicating sustained upward movement.
Volume peaks coincide with these breakouts, confirming trend strength. Resistance is around the recent high at $39.50. A breakout above this level could result in another leg upward, especially if backed by strong volume.
Key Support and Resistance Zones to Monitor
Short-term support is at $35.10, near the middle Bollinger Band and slightly above the 50-day moving average. Further downside could reach $30.76 if broader market sentiment weakens.
Resistance is near $39.42, which has held firm in recent sessions. Breaking above this could lead to higher targets between $41.50 and $42.00 on June 11.
HYPE’s market setup shows a strong trend, supported by rising volume, technical structure, and sustained accumulation. Short-term resistance is a key point to watch, with continued price action likely dictated by trading activity near $39.50.
