• Hyperliquid recorded strong weekly gains of 20.96%.
• Price faces heavy resistance between $50 and $52.
• Bullish breakout targets stand at $55 and $59.05.
• Sentiment remains 67% bullish despite caution.

Hyperliquid (HYPE) shows notable resilience in the market despite broader caution. Over the past week, the token surged 20.96%, maintaining its position on a positive trajectory. Over the last 24 hours, the asset remained relatively stable.

At the time of writing, the token is trading at $49.50. Market data reflects a 24-hour trading volume of $502.32 million, down 17.41% from the previous day. The token’s market capitalization now stands at $16.64 billion. Although trading activity has cooled, the steady price behavior underscores strong underlying support from buyers who continue to back the asset.

Also Read: HYPE Price Outlook Suggests Potential Market Rebound Targeting $55 Soon

HYPE Resistance Zone Presents Key Challenge

The Hyperliquid 4H chart highlights the token approaching a significant resistance area between $50 and $52. This region is reinforced by several overlapping technical factors, including the 61.8% Fibonacci retracement, a major horizontal resistance level, and the 200 EMA.

Importantly, this zone previously acted as a strong support in September before flipping into resistance after a breakdown. Price action shows repeated rejections, with candles failing to close above the zone. Unless HYPE breaks and holds firmly over this ceiling, sellers are likely to maintain pressure.

Targets on the downside include $47.57 at the 38.2% Fibonacci region, then $44.75 around the 200 EMA. If the momentum continues losing strength, the fall towards the latest swing low at $40.48 becomes possible.

On the flip side, a clean break above $52 might turn this area into support. If it is made, bulls might target the upside at $55, $59.05, and potentially $64.10 levels, matching Fibonacci retracement and extension areas.

Community Sentiment Remains Bullish

The chart reflects the sentiment of the community using 68.6K total votes. 67% of the participants are bullish for their votes, indicating the majority anticipates higher prices ahead. Such robust bullish sentiment demonstrates market positivity as well as belief in higher momentum.

In contrast, 33% of the community went bearish, but this showed an important minority still anticipates declines or resistance on the horizon. Though not the majority, the bearish sentiment demonstrates fear among traders who fear the market may encounter declines or corrections within the current bull run.

Also Read: HYPE’s Bullish Momentum: Can It Hold Above $42 for a $60 Target?