- Friday, a The price of Hyperliquid (HYPE) jumped by 2.5% on the daily chart in a recovery session, after losing 7.88% during the week.
- The cryptocurrency is trading at around $35.74 with a market capitalization of $9.09 billion, along with a daily turnover of $160.70 million.
- Recently, open interest in the HIP-3 markets has risen to more than $1.4 billion, while the average futures volume has reached a value higher than $5 billion on peak days.
On April 3, the price of Hyperliquid (HYPE) rose by 2.5% on the daily chart, which helped its price recover from the recent decline in the crypto market.
According to CoinMarketCap priceHyperliquid (HYPE) is currently trading at around $35.53 with a market capitalization of $9.09 billion. Daily trading is around $160.70 million, with a total of 956.35 million HYPE tokens.
Hyperliquid Price (HYPE) is Following a Recovery Pattern
Currently, HYPE is showing the first signs of recovery after a bearish trend. The price faced a strong downward trend and is now making new lows, indicating a significant reversal in the price trend. At the moment, HYPE is consolidating near the support zone, and this kind of exit can lead to a strong rise.
The long entry point provided using the dollar value, or DCA, is around the first quarter from $35.60 to $35.30, the second quarter from $35.00 to $34.70, and the third quarter from $34.40 to $34.00. A stop loss is placed below $33.70. Targets are set at $36.20, then $37.00, and finally $38.00. The trend is changing from bearish to neutral with the possibility of a recovery, and a break above resistance would confirm a bullish trend.
(Source: TradingView)
Technical indicators are showing neutral HYPE at the moment, indicating that the recent 2% rally lacks strong momentum in either direction. The relative strength index is around 51, which means that the tokens are in the right zone with no signs of overbought or oversold.
Moving averages are giving mixed signals, with short lines pointing slightly lower while longer lines pointing slightly lower and longer lines continuing to trend higher. Oscillators such as MACD show low negative readings. However, other tools such as the stochastic indicator are providing buy signals. These ingredients are creating a waiting and viewing area for traders. The main support levels are around $34, while the first resistance is seen near $37, and strong barriers are present at $40.
If there is a clear break above the resistance, then it will lead to an upward trend, while a break below the support will test the lower areas near $32.
Several macroeconomic factors in general crypto currency The market helps explain this price movement. Global volatility in energy markets has increased volatility in oil prices, and this has driven traders away from futures contracts that provide exposure without having an asset.
Hyperliquid‘s platform directly benefits from such traffic because it runs 24 hours a day and executes transactions immediately on its high-speed blockchain. At the same time, the crypto sector remains cautious with Bitcoin showing limited profits and many investors diversifying into platforms that provide real value through multiple transactions. This creates a buying pressure for tokens like Hyperliquid that are directly linked to a stable exchange rather than just a speculative one.
Major developments within the Hyperliquid ecosystem continue to support long-term interest in the token. The platform recently added HIP-4 to its innet bug bounty program on April 3, which prepares the network for advertising results and predictive markets. This upgrade enables users to place interactive trades on real-world events such as sports results or financial data releases without the risk of termination that occurs traditionally.
In the past the HIP-3 format has already provided functionality, with well-known features and stocks that account for a large portion of the functionality.
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