Hyperliquid Flips Dogecoin and Hits a New ATH—What’s Next for the HYPE Price Rally?

Hyperliquid (HYPE) price has continued to defy broader market weakness, extending its bullish streak to print a fresh all-time high at $73.79. The token gained over 5% in the past 24 hours, climbing within striking distance of the crucial $75 barrier. The latest surge has also pushed HYPE ahead of Dogecoin in market capitalization, making it the ninth-largest cryptocurrency.

The strength is even more evident against Bitcoin. While BTC slipped 1.42% over the past two days, HYPE outperformed by a notable 7%, underscoring strong capital rotation into the asset. This growing investor interest is reflected in trading volumes, which have climbed to $1.61 billion. However, with the price approaching a key resistance zone after a steep rally, the possibility of a short-term pullback cannot be ruled out.

The focus now shifts to whether HYPE can hold its newly established support at $70 and sustain its bullish momentum toward higher targets.

The short-term price action suggests HYPE has established a local base after facing minor rejection near its recent highs. The Stochastic RSI has cooled into the oversold zone, indicating that the recent bullish momentum has eased, while the Chaikin Money Flow (CMF) remains firmly in positive territory above the baseline. This points to continued capital inflows and underlying buying interest that could help the price maintain its strength.

However, trading volume has begun to flatten over the past few hours, even as the price remains elevated. Such a divergence often signals weakening buying conviction and raises the possibility of a brief pullback or consolidation before the next leg higher.

Despite this, the broader structure remains bullish. As the chart shows, HYPE has broken above its ascending trend line and continues to trade comfortably above the breakout zone, reinforcing the prevailing uptrend. If the bulls maintain control and push the price above the key $75 resistance, turning it into support, Hyperliquid could be positioned to extend its rally and chart fresh record highs.