Hyperliquid Price Breaks Out from Bullish Pattern
- Price Action Analysis: Hyperliquid (HYPE) price rallied to a yearly high of $37.84 on February 3, but has since retraced nearly 18% to $31.06, reflecting market sensitivity to Fed rate hike expectations and impacted by significant whale selloffs.
- Surge in Network Revenue: Data from DeFiLlama indicates that the network's revenue surged nearly 200% over the past week, primarily driven by increased trading in commodity futures, particularly in silver and gold markets, directly benefiting HYPE holders through enhanced earnings.
- Buyback and Burn Mechanism: The protocol utilizes 97% of fees from derivatives trading to buy back HYPE, thereby reducing market supply and enhancing price stability, while also permanently burning pairs used in trades to further increase scarcity and bolster market confidence.
- Anticipated Technical Upgrades: The Hyperliquid team is advancing the HIP 4 upgrade to support outcome trading, a feature that will benefit prediction markets, with a testnet version currently live, generating significant market anticipation for future price movements.
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Technical Analysis for HYPE
Technical Sentiment Analysis for Hyperliquid (HYPE). As of , Hyperliquid (HYPE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for HYPE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, HYPE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Hyperliquid (HYPE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 19.086 | 23.691 | 27.639 | 32.244 | 36.192 | 40.797 | 44.745 |
| Fibonacci | 23.691 | 26.958 | 28.976 | 32.244 | 35.511 | 37.529 | 40.797 |
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