Hyperliquid has managed to turn heads this week despite facing pressure from Aster’s dominance in perpetual DEX volume. In comparison, Aster clocked an eye-popping $185 billion in trading activity, more than 2.5 times higher than Hyperliquid’s HYPE. However, the token has shown remarkable resilience, as HYPE price rebounded with a 6.22% daily gain. Thereby, sharply outperforming the broader crypto market, which slipped to a 1.25% loss over the past 30 days.
The recovery has pushed Hyperliquid’s market cap to $15.98 billion, supported by a notable uptick in trading activity. Its 24-hour volume surged nearly 30%, reaching $361.32 million. This bounce comes at a time when investor sentiment was beginning to wobble. With many questioning whether HYPE could keep pace in the face of Aster’s overwhelming lead.
Hyperliquid’s price climbed to $47.48, showing a strong intraday move between $43.03 and $47.72. The recent rally began after HYPE recovered above its short-term pivot at $45.80 and cleared the 7-Day EMA at $46.50. However, resistance has emerged near $49.64, the 30-day SMA, and at the psychological $50 mark.
Technical signals reflect mixed momentum. Support is seen at $44.19, suggesting buyers could step in if selling resumes. The RSI is neutral at 46.68, while MACD remains negative at -1.2, calling for caution as momentum is not yet firmly bullish. Short-term traders likely triggered this rebound following a steep 20% decline from the September peak of $59.39.
If HYPE price closes above $50 with strong trading volume, a run towards $54.83 looks achievable, offering a fresh bullish target. Otherwise, failure to defend current levels may invite a retest of $44 support.
HYPE’s price gained 6.22% after its NFT launch, technical breakout above $45.80, and renewed interest from alt-season trends pushed fresh capital into the ecosystem.
Support sits at $44.19, while resistance is at $49.64 and $50. A close above $50 may open a move towards $54.83.
Momentum remains mixed, as RSI is neutral, and MACD is negative.
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