thenewscrypto.com
- Hyperliquid rockets 19%, trading at $69.
- Trump has put $HYPE in the U.S. spotlight.
The broader market flipped bullish overnight. Trump has pushed Congress to pass the CLARITY Act, calling it critical to maintaining America’s edge in emerging technology. He also teased potential US crypto reserves, language that sent institutional money flooding back into spot BTC and ETH ETFs simultaneously.
All major assets have gained significantly. Meanwhile, Hyperliquid ($HYPE) is up by over 19% and is trading at $69.88. Its trading volume is hitting $1.352 billion across a session range of $58.04 to $72.28. The token’s ATH of $76.87 is now within striking distance, 9.6% away from the current price.
The catalyst came directly from the White House. During a crypto executive meeting that included Coinbase, Kraken, Gemini, Robinhood, and Payward, President Trump stated that CFTC Chairman Mike Selig is working to bring Hyperliquid into the United States in a fully compliant and legal fashion.
Hyperliquid’s model, an always-on exchange accessible through a wallet, is difficult to square with traditional US market structure. CME and ICE have lobbied for tighter scrutiny of the platform, citing manipulation and sanctions concerns. Moreover, Hyperliquid competes directly with their core franchise as the reference price setter.
Can Hyperliquid Flash Another Wave of Bullish Momentum?
With the recent positive trading on the chart, the $HYPE price could move up to the initial resistance at $70.06. Extended pressure on the upside might trigger the emergence of the golden cross and send the price higher, above $72. On the other hand, assuming Hyperliquid turns to the bearish side, the price could immediately slip and find the nearest support at $68.91. If the downside correction strengthens, the death cross unfolds and pushes the price below $66.
Furthermore, the technical analysis of $HYPE reports that the Moving Average Convergence Divergence (MACD) line is above the signal line. The short-term buying pressure is outperforming its recent average. Also, as both lines are above the zero line, this confirms that long-term momentum favours the buyers.
The overall market structure is in an active uptrend. This confirms that long-term momentum favours the buyers and the overall market is in an active uptrend. The histogram bars are green, reflecting expanding bullish momentum. The broader path of least resistance is up.
Hyperliquid’s daily Relative Strength Index (RSI) value of 84.34 indicates an extremely overbought and overheated market driven by aggressive buying pressure. Anything above 70 is considered overbought. Buyers are in complete control, driving rapid price acceleration with almost zero selling resistance.
The price may either experience a pullback or move sideways in a tight range to allow it to bleed back down toward the 50-60 zone before attempting another push higher. It shows immense power and momentum, but it cannot run at this intensity forever without needing to cool off.