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$HYPE has experienced notable volatility recently, pushing the altcoin upwards. The rise to a new all-time high ($ATH) may be delayed.
However, it remains a strong possibility for the coming months, especially with the positive momentum building in the market.
Hyperliquid Is Noting Bullishness
The Relative Strength Index (RSI) for $HYPE has made a positive shift, moving back into the bullish zone after briefly slipping below the neutral mark. This rise above 50.0 signals strengthening bullish momentum, which is a promising sign for $HYPE’s price in the days ahead.
As the RSI stays above 50.0, it suggests that the upward momentum is gaining traction. Investors can expect $HYPE’s price to experience continued upward movement as long as the RSI maintains this bullish trend.
The Moving Average Convergence Divergence (MACD) indicator is also showing promising signs for $HYPE. It is on the verge of a bullish crossover, which would confirm the shift in momentum from bearish to bullish.
The histogram associated with the MACD is showing declining red bars, signaling that bearish pressure is waning. A confirmed bullish crossover would confirm the strength of the momentum and fuel $HYPE’s rise towards new highs.
$HYPE Price Is Nearing The $ATH
$HYPE is currently trading at $39.1, just under the resistance of $39.9. Breaking through this level is crucial for $HYPE to continue its upward trajectory.
Securing $39.9 as support would signal the potential for further gains and set the stage for the altcoin to push toward higher price levels.
To continue its upward trend, $HYPE would need to breach and hold $42.2 as support. If successful, the next key target would be the $ATH of $45.8, which is approximately 16.8% above the current price.
However, this move might take longer, with investors likely seeing it happen sometime after Q3 begins next week.
Both $42.2 and $39.9 have been critical resistance levels for $HYPE.
If the altcoin fails to break through $39.9 or encounters selling pressure before reaching these levels, it could fall back to the support of $35.7, invalidating the bullish outlook and potentially reversing the current trend.