Hyperliquid ($HYPE) has broken above the $35.73 resistance, indicating that the bulls have kept up the pressure.
#HYPE
If the price sustains above $35.73, the HYPE/USDT pair could pick up momentum and surge to $42.25. Sellers will try to halt the up move at $42.25, but if the bulls prevail, the pair could skyrocket to $50.
Sellers are likely to have other plans. They will try to pull the price back below the breakout level of $35.73. If they do that, the pair could drop to the $32.15 support, where buyers are expected to step in.
The pair bounced off the 20-EMA and cleared the overhead barrier at $35.73. If the price remains above $35.73, it suggests that the bulls are trying to flip the level into support. The pair could then attempt a rally to $42.25.
This optimistic view will be negated in the near term if the price turns down sharply and breaks below the 20-EMA. That could trap several aggressive bulls, pulling the pair to $32 and subsequently to $28.50.