Hyperliquid (HYPE) has attracted the attention of altcoin investors by gaining 18% in the last 24 hours. While there is a general stagnation in the crypto market, HYPE has increased by 10% in the last week. Increasing demand and strong technical indicators suggest that new highs are possible if the $25 level is broken.
Demand for HYPE Altcoin is Increasing!
HYPE’s daily chart analysis shows that demand for the altcoin is rapidly gaining strength. The price continues to trade above the green line of the Super Trend indicator. This indicator creates dynamic support levels when determining the direction of the market. Assets trading above the Super Trend line are usually in a bullish trend and buying pressure is strong. This support level for HYPE is around $19.27. If the price continues to stay above this level, the upward momentum can be maintained.
RSI Indicator Gives Bullish Signal!
HYPE’s Relative Strength Index (RSI) is currently at 55.42 and moving upwards. The RSI is a key indicator that evaluates whether the market is overbought or oversold. When the RSI value is above 70, the asset is considered overbought and the possibility of a correction increases. When it falls below 30, it enters oversold territory and a recovery is expected. Since HYPE’s RSI value is at 55.42, it indicates that the bull market is strengthening.
HYPE Coin Price Prediction: $25 Critical Threshold!
If the uptrend continues, the HYPE price could break past the critical $25 level. If this level is broken, it could reach $29.33 and then the all-time high of $35.17. However, if the upward momentum fades and investors turn to profit taking, there is a risk that HYPE could drop to $22.81. Therefore, whether or not the $25 level is broken will be a decisive factor for HYPE.