The crypto market maintains its bullish price action by adding 1.13% to its valuation in 24 hours. This has resulted in its market capitalization increasing to $3.33 trillion. Following this, the mid-cap tokens are picking pace by adding significant value to their respective portfolios.
Hyperliquid, an infant project less than a year old, has recently gained the spotlight of the crypto community as it has successfully overthrown Shiba Inu, the second largest memecoin in terms of market valuation. While SHIB memecoin has a $8.83 billion cap, HYPE token has crossed the $9 billion mark.
Following this, marketers are curious about the price prospects of this altcoin. Moreover, investors are wondering if Hyperliquid could flip Stellar XLM crypto next? Or How high will the HYPE price go? In this article, we will understand the technical sentiment of this altcoin. Further, we will conclude with a potential Hyperliquid price prediction for this month.
HYPE Crypto Price Forms An Ascending Channel Pattern
The price of Hyperliquid token has experienced a significant jump overnight, resulting in it coming under the spotlight of the crypto space. Notably, the HYPE coin has jumped 10.36% in 24 hours with a trading volume of $168.69 million, a change of +23.86%.
The Relative Strength Index (RSI) continues hovering above the overbought range in the daily time frame with its average trendline constantly supporting the price chart. This suggests a positive outlook for the altcoin this month.
Moreover, the SMA indicator has been acting as a support to the Hyperliquid price chart since the month of May started. Considering the present technical sentiments, the HYPE crypto may continue recording an upward trajectory in the shorter time frame.
Will Hyperliquid Price Hit New ATH Soon?
The price of HYPE coin could breach its immediate resistance level of $27.40 and head toward its upper price target of $30.7 if the bullish sentiment sustains. Maintaining the value above that level could push the Hyperliquid price toward its ATH of $35.02 in the upcoming time.
On the contrary, if the crypto market experiences a sudden increase in liquidation, this could result in the Hyperliquid token retesting its support of $25.50. Furthermore, if the bearish sentiment intensifies at that point, this could result in this altcoin plunging toward its crucial support zone of 422.80.
Also Read: Dogecoin vs Shiba Inu: Which is a Better Investment for May 2025?
