Hyperliquid Price Extends Above $48, Can the Rally Claim $50?

I’m witnessing a dynamic shift in Hyperliquid’s price action that’s grabbing trader attention and headlines alike. Over the past day, HYPE price jumped 1.95% to $48.24, capping an impressive weekly run of 22.93%. Wondering what led to the moonish move? The surge isn’t just technical, it’s supported by two pivotal ETF filings by 21Shares and Bitwise.

Successively, against the backdrop of an altcoin season, liquidity is rotating rapidly into alts, with HYPE riding a 23.7% 7-day wave that’s hard to ignore. Giving a gist about technicals, the price closed decisively above the 7-day SMA at $44.78 and 30-day SMA at $42.5. With a market cap now at $16.24 billion, HYPE’s rise stands out not just in technical charts but also in the story told by its numbers.

HYPE Price Analysis

Right now as I write this analysis, HYPE price is at $48.34, above significant moving averages and with bullish signals flashing in the MACD histogram (1.57). The 14-day RSI reads 60.58, inching closer to overbought territory, suggesting traders may soon start locking in profits if momentum stalls.

The Fibonacci retracement at $45.42 marks a critical resistance zone, one that’s been tested repeatedly in recent trading sessions. Bulls have controlled the narrative for most of the week, as the price has ranged above the short-term SMA at $44.78. If HYPE falls below its pivot point at $48.07, it may trigger profit-taking and expose the price to a pullback.

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