Hyperliquid Price Outlook: Bullish MACD Crossover Fuels Rally Possibilities

Hyperliquid is showing promising signs of a rally as a bullish MACD crossover emerges near the $33 resistance level. This situation is prompting traders to weigh potential gains against risks of upcoming token unlocks.

Key Takeaways

Current Price: HYPE is trading at $32.63 with a recent 1.5% increase.
Market Performance: The token has gained 16% in the last week and nearly 100% over the last year.
Key Indicator: A bullish MACD crossover has occurred, suggesting potential upward momentum.
Resistance Level: $33-$34 is the current resistance zone.
Upcoming Event: A significant token unlock of 9.92 million tokens is scheduled for March 6.

Chart showing Hyperliquid price

As of now, Hyperliquid (HYPE) is trading at $32.63, marking a 1.5% increase over the past 24 hours and positioning itself at the higher end of its weekly trading range of $26.22 to $33.33. Despite a general downturn in the market, HYPE has performed well, appreciating 16% over the last week and nearly 100% in the past year. Nevertheless, it still remains about 44% below its historical peak of $59.30 reached in September 2025.

Understanding the MACD Crossover

The daily chart indicates a new bullish signal in the market. The MACD line has recently crossed above the signal line for the first time in several sessions, with the histogram now showing positive values. Although momentum is building, further confirmation is required to verify this trend.

Hyperliquid daily chart Source: crypto.news

The price remains above the mid-Bollinger Band, which aligns with the 20-day moving average. This indicates a potential for increased volatility, as the bands are starting to widen following a period of compression. A simultaneous boost in volatility and a bullish crossover may lead to significant price movements.

The Relative Strength Index (RSI) has climbed above 50, indicating increasing buying pressure without reaching overbought conditions. As buyers regain control, there is potential for further gains if this momentum is sustained. HYPE is also showing structural strength, forming higher lows since its dip in late February, pushing against the resistance zone of $33 to $34.

Short-Term Price Outlook for Hyperliquid

Expectations for Hyperliquid in the near term are varied. If HYPE can consolidate above the $30 mark, analysts suggest it may push toward $35 and possibly reach $38 to $40 later in March, especially if overall market sentiment improves.

However, failure to maintain support in the $27 to $30 range could result in a drop to $22-$23, and a more accelerated sell-off could risk prices falling to $18-$21. The ongoing pattern of lower highs needs to be addressed for a more bullish outlook.

On a fundamental level, new market activity could be sparked by the upcoming HIP-4 upgrade, which will introduce outcome trading features. Tokenomics remain positive, thanks to daily buybacks and aggressive fee burns that are reducing the circulating supply.

Nonetheless, it's important to consider that a scheduled unlock of 9.92 million tokens on March 6 could exert short-term pressure on the price, particularly if the broader crypto market weakens.

As it stands, the MACD crossover has shifted short-term momentum upward. A definitive break above the $34 level would further bolster the bullish perspective, while failure at that point could see the price remain within a volatile trading range.