Bitcoin News Today: HYPE Token Retests $0.0011 Support Amid Bullish Potential

Hyperliquid’s native token, HYPE, is currently retesting a key support zone between $0.001 and $0.0011 on the 4-hour chart. This level, which once acted as resistance, has now transformed into a demand area—an indication often associated with a continuation of the bullish trend. The current price is hovering near $0.00114, and traders are watching closely for signs of a strong bounce [1].

A successful rebound from this support zone could signal increased buying pressure and set the stage for a move toward $0.0015 and beyond [2]. This potential breakout aligns with historical patterns where retests of key support levels have led to upward price action. However, caution is advised, as a breakdown below $0.001 could invalidate the bullish setup and shift sentiment toward bearish territory [3].

Analysts highlight the importance of volume and candlestick behavior in confirming the strength of the bounce. A sharp increase in volume during the retest would suggest a higher probability of a sustained move higher [4]. Additionally, traders are advised to monitor the structure of the price movement, including how it interacts with previous resistance levels that have now flipped into support [5].

The broader market environment also plays a role in HYPE’s potential trajectory. For example, Bitcoin’s recent movement into a bullish retest zone—around $112.5K—has raised expectations of a broader crypto market rebound. If Bitcoin successfully retests its all-time high of $123,200, it could generate further momentum for altcoins like HYPE [6]. This dynamic underscores the interconnected nature of crypto markets, where movements in major assets often influence smaller ones.

Despite the potential for a bullish breakout, the market remains in a state of flux. Analysts are divided on whether HYPE will retest $0.0009 or move toward a more bullish range of $0.0013–$0.0015 [7]. The outcome will depend on how buyers and sellers interact at the current support zone and whether momentum builds sufficiently to push the price upward.

As the token continues to consolidate, traders are advised to exercise caution and apply sound risk management strategies. The current structure suggests a defensive stance from sellers but not full capitulation, indicating that the market is still in a phase of evaluation. Any decisive move above or below key levels could mark the beginning of a more defined trend, either bullish or bearish [8].

Source:

[1] HYPE Token Retests Key Support for Bullish Move (https://coinmarketcap.com/community/articles/688ec03c2fb07274aea4ea67/)

[2] Hyperliquid (HYPE) Price Prediction: Momentum Cools as ... (https://bravenewcoin.com/insights/hyperliquid-hype-price-prediction-momentum-cools-as-price-approaches-make-or-break-support)

[3] Best Cryptocurrencies to Buy Today, August 1 – Ethereum, ... (https://coinstats.app/news/5dc1f5bcdf9b85b0ba3d415736c6d5e15b80ab380835cd7ef5dca880e8823b9a_Best-Cryptocurrencies-to-Buy-Today%2C-August-1-%E2%80%93-Ethereum%2C-Hyperliquid%2C-Chainlink/)

[4] HYPEUSDT Charts and Quotes (https://www.tradingview.com/symbols/HYPEUSDT/)

[5] Cold Wallet Presale Gains Traction CWT Hits $0.00942 ... (https://www.ainvest.com/news/cold-wallet-presale-gains-traction-cwt-hits-0-00942-hyperliquid-hovers-44-bitget-expands-campaigns-2508/)

[6] Bitcoin Reclaims Bullish Zone as 96% of Holders Stay in ... (https://cryptodnes.bg/en/bitcoin-reclaims-bullish-zone-as-96-of-holders-stay-in-profit/)