Hyperliquid Edges Toward $40 as Volume Surges 80%, RSI Nears Overbought Territory

Hyperliquid (HYPE) has recently retested the $37 price level, drawing renewed interest from investors as it edges closer to its previous all-time high (ATH) of $39.93. The token's recent performance has been marked by a significant surge in intraday volume, exceeding 80%, which suggests potential bullish trends. However, market participants remain cautious amid consolidation phases.

The Relative Strength Index (RSI) for HYPE currently stands at 68.91, just below the overbought level of 70. This positioning reflects strong buying momentum but also warns of an impending overextension. Traders should watch for RSI crossing into overbought territory, which could trigger profit-taking or a short-term reversal. The Bollinger Bands’ widening range indicates increased price volatility, often preceding significant market moves.

Looking ahead, the immediate resistance for Hyperliquid is set near its previous high of $39.93. Surpassing this level could pave the way for testing the $40 to $42 range. However, reaching the $50 mark would require a substantial 32.8% increase from current prices—an ambitious target given current market conditions. On the downside, critical support levels lie at $35.30 and $32.95, which could provide a buffer against downward pressure. Should market liquidation intensify, the token might face a decline toward the $30.70 level.

Given the current technical landscape, investors should consider a balanced approach. The consolidation phase offers an opportunity to accumulate positions ahead of a potential breakout, but caution is warranted due to the risk of short-term reversals. Monitoring volume trends and RSI movements will be crucial in timing entries and exits. Additionally, staying informed about broader market sentiment and related crypto asset performance can provide context for HYPE’s price trajectory. Diversification and disciplined risk management remain key strategies in navigating the volatile altcoin market.

Hyperliquid’s recent price retest at $37 underscores a pivotal moment as it approaches its all-time high. While technical indicators suggest bullish momentum, the consolidation phase and near-overbought RSI highlight the need for cautious optimism. Investors should closely monitor key resistance and support levels to capitalize on potential gains while mitigating downside risks. As the market evolves, staying informed and agile will be essential for those tracking HYPE’s performance in the dynamic crypto landscape.