Hyperliquid $HYPE Price Rebounds On A Strong Support
The HYPE/USDT chart displayed in a 1-hour timeframe, shows the current price at $29.96, reflecting a modest 2.03% increase. Key support and resistance zones, along with moving averages and RSI levels, highlight significant price levels and potential market movements.
The price recently rebounded from a major support zone between $26 and $27, indicating strong buying interest in this region. Above this, the $28 level has acted as minor support, helping to sustain the upward momentum.
On the upside, the $35–$36 range is a critical resistance zone. A breakout above this level could confirm a bullish continuation, potentially paving the way for the price to rally toward the $40 mark. The moving averages further support the bullish narrative. The 50-simple moving average at $27.79 has crossed above the 200-moving average at $29.46, forming a bullish crossover that typically signals an uptrend.
The Relative Strength Index (RSI) is currently at 57.09, suggesting bullish momentum while remaining below the overbought threshold of 70. This indicates room for further price appreciation before a potential pullback. However, if the price exceeds the $29–$30 range, it may revisit the major support zone near $27.
The bullish reversal, supported by the breakout above minor resistance and favorable technical indicators, positions Hyperliquid for further gains. The immediate target is $35, potentially reaching $40 if the resistance is successfully breached.
