HYPERLIQUID HOLDING ABOVE CRITICAL SUPPORT AMID VOLUME SURGE
Hyperliquid (HYPE) is showing signs of a potential breakout, holding above critical support around $29.20. Recent surges in trading volume, with 24-hour volumes between $38M and $444M, indicate strong demand.
Technically, if HYPE sustains above $29.20, targets of $39.10, and potentially higher, are projected. The platform's fundamentals are also robust, with open interest recently hitting record highs of $10.1 billion and daily trading fees at $5.6 million. Whale activity further supports the bullish sentiment.
However, the Relative Strength Index (RSI) is in overbought territory, suggesting a potential for a short-term pullback before further upward movement.
Hyperliquid is a decentralized exchange (DEX) on its own Layer-1 blockchain, aiming for high performance and advanced trading features, with its native HYPE token used for governance, fee discounts, and staking.
