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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Nov 30, 2024 09:56 UTC
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HyperLiquid Price Analysis: Airdrop-Fueled Rally Targets $0.1573
HYPE trades near $0.08 after a 66 percent daily surge, rising 527 percent from its $0.0118 low.
Crucial support levels are $0.060 and $0.031.
Key resistance is at $0.10, with upside targets at $0.1236 and $0.1573.
Over the past 24 hours, the HyperLiquid market price has increased by nearly 66%. The massive surge comes after the billion-dollar airdrop. The company has distributed 300 million HYPE tokens among its eligible community members. HyperLiquid.
HyperLiquid aims to enhance the efficiency and performance of its DeFi applications. As a novel layer-1 blockchain, HyperLiquid maintains its main focus on performance and scalability.
The main feature of the platform is its decentralized perpetual exchange services. It also provides decentralized exchanges that rely on off-chain order books. HyperLiquid has a development team from Harvard, Caltech, MIT, etc.
Will the new breakout rally surpass the $0.10 barrier this weekend? Let’s find out in Coinpedia’s latest HYPE price analysis.
Hyperliquid (HYPE) Price Performance
In the daily chart, the price surge continues with an intraday gain of 14.20%, creating the second consecutive bullish candle. Compared to its 30-day low of $0.0118, the current market price has surged 527%.
Based on the HYPE token price action, the overnight surge leads to a bullish flag pattern breakout and results a positive crossover in the MACD indicator.
Based on the pivot price standard, the bullish trend is expected to surpass the $0.10 psychological mark. The upside price targets are at $0.1236 and $0.1573. On the flip side, crucial support remains at $0.060 and $0.031.
Will Solana witness a similar price run to $500 with the DeFi boost? Find out more about Coinpedia’s Solana price prediction.
FAQs
A massive airdrop and a bullish flag breakout contributed to the 66% rally.
Resistance at $0.10, with upside targets at $0.1236 and $0.1573. Support at $0.060.
Yes, MACD crossover and bullish flag breakout signal strong upside potential.
Yes 
No 
