Hyperliquid Soars 13%, Surpassing Key Resistance – Will HYPE Reach $50?

What is ahead for HYPE?

Hyperliquid’s token, HYPE, has experienced a remarkable 13% increase in value over the past 24 hours, primarily driven by Robinhood’s recent addition of the token for spot trading. The surge in trading volume and whale activity indicates a robust bullish momentum, suggesting that HYPE could be on a path towards the critical resistance level of $50.

Key Takeaways

Robinhood’s spot listing has reignited interest from investors, leading to increased trading volumes and heightened whale activity.
Ongoing whale accumulation and strong network activity could sustain bullish momentum, potentially driving HYPE toward the $50 resistance mark.
Hyperliquid [HYPE] is regaining traction, with price increases notably linked to new listings on exchanges.

Rising Whale Activity and Trading Surge Post-Listing

New exchange listings typically boost investor confidence in cryptocurrencies, and Robinhood's latest inclusion of HYPE has certainly reinforced this trend. By providing easier access to the token, there has been a notable influx of both retail traders and large investors. The trading volume saw a brisk increase, with spot market activity soaring across various exchanges.

HYPE trading activity Source: CryptoQuant

The recent data from CryptoQuant indicates that whales and institutions are actively transferring funds and establishing new positions. After a period of inactivity, these significant players are now engaging more than ever—some are betting on a short-term upswing, while others see this development as validation of Hyperliquid’s broader potential. The daily price chart reflects this growing momentum vividly.

HYPE whale orders Source: CryptoQuant

Long-Term Indicators Suggest a Conditional Breakout

The positive developments are clearly visible on the daily chart. After a prolonged bearish phase, HYPE’s price trajectory appears to be shifting favorably. The altcoin has been gaining momentum over the past week, with buying pressure lifting it above its 200-day Exponential Moving Average (EMA), signifying a bullish long-term outlook.

At the time of writing, HYPE is testing the 50-day EMA at approximately $40.33. If the price climbs above this resistance level, it may trigger a shift to a bullish short-term outlook. This potential upward movement could inspire the accumulating whales to hold their positions in anticipation of reaching the significant psychological resistance at $50.

HYPE price action analysis Source: TradingView

What Lies Ahead for HYPE?

If whale activity continues alongside strong network engagement, HYPE’s bullish trend could persist, potentially pushing the price toward the key $50 psychological level. However, given the inherently volatile nature of cryptocurrency markets, investors and traders are advised to remain vigilant, as market sentiment can shift rapidly.