HYPE: The $40 Dream – Will It Soar or Crash? 🚀💔

by
  • HYPE has gallantly surged by 6% after a valiant retest of a key demand zone in less than 48 hours.
  • Long/Short Ratio and 90-day delta whisper of a potential reversal, like a secretive old man in a dimly lit tavern.

Ah, Hyperliquid [HYPE], the phoenix of the crypto world, has risen with a 6% gain after a successful rejection at a key demand zone hovering around $30.67. This zone has seen three separate rejections in the last fortnight, as if it were a stubborn door refusing to open.

The trend suggests that this level is being fiercely defended by buyers, like a mother bear protecting her cubs. On the daily chart, HYPE prices have bounced back with each rejection, showcasing a robust underlying demand, with the latest bounce being the most optimistic—like a child believing in Santa Claus.

Interestingly, the altcoin’s stochastic RSI, one of the key momentum indicators, was lounging in the oversold region at press time, adding to the likelihood and magnitude of a potential price reversal. It’s like finding a forgotten $20 bill in your winter coat—unexpected but delightful!

Historically, this region has marked HYPE price reversals, especially when followed by strong buying pressure. Will history repeat itself, or will it be a tragic comedy?

Momentum indicators signal a bullish reversal

The bullish price movement is supported by positive HYPE on-chain data, like a well-timed joke at a funeral.

The 90-day Cumulative Volume Delta, which measures the difference between buy and sell volume, indicated buyer dominance. As the delta rises over time, it signals stronger buy orders entering the market, reinforcing the ongoing bullish reversal—like a crowd cheering for their favorite team.

Market sentiment metrics also lean bullish. The altcoin’s Long/Short Ratio stood at 1.04 at press time, suggesting that HYPE bulls are still in control, like a cat that believes it owns the house.

Though higher by a smidge, the difference in crypto’s volatility can be enough to bring about additional price action with other bullish signals. It’s like waiting for the kettle to boil—will it or won’t it?

Will HYPE break above $40?

With the trend on its side, HYPE could be setting itself up for yet another challenge of the $40 barrier. However, investors would need to observe the volume on the market and the prevailing sentiment, like a hawk watching its prey.

If the buying pressure continues and volume picks up, a $40 target could be on the cards. But let’s not get ahead of ourselves—caution is advised. Unless bulls can maintain the present momentum, HYPE may return to $30–$32 for another retest before doing anything definitive, like a student cramming for an exam.

Meanwhile, the combination of an oversold stochastic RSI, a dominant buyers’ trend, and a Long/Short Ratio in its favor is a positive go-ahead for HYPE traders and investors alike. So, grab your popcorn and enjoy the show! 🍿

Read More

2025-06-08 19:07