TL; DR
- Hyperliquid (HYPE) is near $42 with a trend higher than $40.
- The bullish formation is supported by the future rise in Open Interest and positive earnings.
Hyperliquid (HYPE) traded above $42 on Monday, continuing its upward trend from the upward trend.
While inflation was positive, signs of a cooling of trade interest rates differed from the steady increase in potential stability areas, resulting in a short-term mix in the central exchange rate signal.
The speed of trade slows down as people’s control decreases
Trade-driven momentum seems to be slowing down. Data from Santiment shows that Hyperliquid’s dominance has fallen sharply to 0.137%, down from 0.688% at the height of the US-Iran conflict in late March.
The decline reflects a reduction in trading interest as global tensions ease, removing the explanatory driver that previously fueled speculative interest in the DEX.
In contrast, peripheral services are heating up. According to CoinGlass, HYPE futures Open Interest (OI) has risen almost 3% in the last 24 hours to $ 1.65 billion, which indicates an increase in leading positions.
Funds remain positive at 0.0077%, indicating that long positions continue to dominate. Last month’s continued earnings show strong sentiment among successful traders, even as interest in trading has waned.
HYPE price pattern: A rising wedge puts support at $40
HYPE/USD 4-hour chart is strong and useful as HYPE is consolidating within a rising wedge.
The indicator remains supported above its 50-day EMA at $38.98 and 200-day EMA at $34.90, reinforcing its bearish formation.
Momentum indicators are showing steady but directed direction. The Relative Strength Index (RSI) sits at 56, pointing to a positive but not bearish trend, while the MACD is heading for a bullish crossover, indicating a bearish trend.
If the bulls were to move higher, they would face immediate resistance at the level of $43.71, which prevents the current recovery and connects with the upper limit near $46.80. A definite break above this zone would lead to a continuation of the bullish trend.
However, if the market is correcting, the upside support near $41.21 becomes difficult.
A break below this level would reveal the 50-day EMA at $38.98, with the 200-day EMA at $34.90 serving as a key area if the sell-off continues.
Although Hyperliquid’s trend is still higher than $40, the difference between the low interest rate and the rising trend indicates that the next move can be determined if the growth is increasing or decreasing.
