coinjournal.net
TL;DR
- The crypto market has begun the new week positively, with $BTC trading close to $112k.
- $HYPE has overtaken Chainlink’s $LINK, up nearly 8% today.
$HYPE overtakes $LINK on the market cap list
The cryptocurrency market is having a positive start to the week, thanks to Bitcoin and other major coins rallying higher. $BTC, the leading cryptocurrency by market cap, is up 1% in the last 24 hours and is now trading at $111,800 per coin.
The positive performance also sees altcoins rallying higher, with $HYPE leading the way. Ether is trading above $4,300 after adding 0.4% to its value, while XRP is approaching $3 as it is up by more than 3% in the last 24 hours.
Dogecoin’s DOGE and Hyperliquid’s $HYPE are the best performers in the top 20. $HYPE is up by nearly 20% in the last 24 hours, outperforming other major cryptocurrencies over the past few hours.
At press time, $HYPE is trading at $50.7 after hitting the $51 mark earlier today. Thanks to this positive performance, $HYPE has now surpassed Chainlink’s $LINK and is now the eleventh-largest cryptocurrency by market cap.
$HYPE eyes a new all-time high
$HYPE is currently less than 1% away from the all-time high price of $51.04 it set 12 days ago. The coin could rally to a new all-time high in the coming hours as the trend remains bullish.
The $HYPE/USD 4-hour chart is bullish and efficient, suggesting that the bulls could be gearing up for another leg up. The RSI of 73 shows that $HYPE could soon enter the overbought region if the bullish trend continues. The MACD lines have also crossed into the positive region, suggesting that buyers are firmly in control.
$HYPE/USD 4H Chart">
If the bullish trend continues, $HYPE could surge past $51 and set a new all-time high around $55 over the next few hours. An extended bullish run would see $HYPE hit $60 in the coming days or weeks.
However, $HYPE currently faces a rejection candle at the $51 mark. If the market undergoes a correction, $HYPE could retest the $48 low over the next few hours. The support level at $46.85 should hold $HYPE in the near term, unless the market sentiment turns extremely bearish.