There is no denying the appeal of Hyperliquid [HYPE] in the cryptocurrency market as the coin has recorded impressive growth over the past week. This article analyzes the trading performance and technical factors affecting HYPE price in detail, and provides important price levels that investors should monitor to understand the upcoming volatility trend. With stable trading volume and increasing new users on the decentralized exchange (DEX), Hyperliquid has the potential to continue growing if it maintains its current bullish structure. In addition, the article also provides insights based on on-chain data and technical indicators to help investors make the right decisions in the volatile cryptocurrency market.
Trading Volume and New Users Drive Hyperliquid's Price Uptrend
Over the past week, the trading volume on the DEX for Hyperliquid has remained stable, equal to or surpassing the number set in February this year. This is a positive signal, demonstrating the attraction and good liquidity of HYPE coin in the market.
In addition, the number of new users joining the decentralized exchange has also been increasing continuously in the past two months. The breakthrough in the number of users has contributed to strengthening confidence and creating momentum for the price of Hyperliquid to recover. This is one of the key factors for the next price increase if the trend is maintained.
Detailed review of Hyperliquid price movement and price action
HYPE price has tried to break above the resistance at $39 but failed, indicating that there is a lot of selling pressure at this price level. However, the price still maintains a bullish structure on the 4-hour chart, as the price repeatedly found solid support around $37.25.
The OBV (On Balance Volume) indicator shows a slight decrease in trading volume after the recovery from $36, indicating investor caution. At the same time, the RSI remains at 56, indicating balance but not yet strong enough to push prices higher.
Technical Analysis: Hyperliquid Key Support and Resistance Levels
Since late May, Hyperliquid has been trading in a range of $31 to $44.8. The midpoint at $37.9 is considered a key support zone. If HYPE can hold this level, the likelihood of a move higher within the range will increase significantly.
To achieve this, the coin needs to see a surge in buying, which depends on investor demand as well as general market sentiment. In particular, a positive correction from Bitcoin could also provide a boost for HYPE prices to recover.
The Impact of Liquidation Activity and On-Chain Data on Hyperliquid Price
The contract liquidation table shows that during the period when HYPE price increased from 36 USD to nearly 39 USD, short positions were liquidated a lot, while long positions were less affected, this trend reflects the expectation of price increase from traders.
Open Interest and Funding Rate data have both remained positive over the past 24 hours, indicating that the market is bullish on HYPE in the short term. However, to maintain the upward momentum, trading volume needs to continue to improve and buying demand needs to increase strongly.
Conclusion: Hyperliquid's Recovery Potential and Factors to Watch
Hyperliquid has a good technical foundation along with support from a stable user base and trading volume. Investors should closely monitor key support zones around $37.9 and check for signs of increasing buying volume to assess the strength of the trend.
In addition, Bitcoin price movements still play a key role in navigating the overall cryptocurrency market sentiment and directly affecting HYPE. Understanding technical indicators and On-chain data helps investors minimize risks and take advantage of opportunities more effectively in the current volatile market context.
Source: https://tintucbitcoin.com/luong-cau-low-hype-giam-nha-dau-tu/
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