• HYPE rises 5.81% to $47.26, with trading volume up 27.75%, showing bullish market momentum.
• Maintaining the $42 support level could drive prices to $50–60, but losing it may trigger a decline.
• RSI at 50.41 suggests a neutral market, while MACD shows slight bullish divergence, indicating a potential rise.

Hyperliquid (HYPE) is currently trading at $47.26, up by 5.81% in the last 24 hours. The trading volume has shot up by 27.75% and is currently standing at $358.58 million, which is a bullish movement in the market.

During this upward trend, HYPE has experienced a slight decrease in price of 2.47% over the past week. Although the short-term trend is fluctuating, the trading activity over the long term is high, indicating the presence of interest among traders.

Source: CoinMarketCap

HYPE’s Bullish Momentum Strong Above $42

Crypto analyst CryptoPulse highlighted that the HYPE price is reacting to the mid-channel support near the $40 and the $42 mark, indicating that the price is not falling. The coin continues to honor its long-term rising channel, which is one of the major aspects that attracted the bulls. 

HYPE will continue its growth path as long as the $42 level holds. In case the price succeeds in remaining above this mark, then it may potentially increase to $50 and $52, with a possibility of reaching the upper mark of $58 and $60.

Source: X

However, losing the $42 support may indicate the change in the market dynamics. Value HYPE may drop more drastically into the price range of $36 and $38 in case of falling below this critical point. 

This would lead to the reversal of the upward trend, which could be the end of the current bullish momentum. To evaluate the strength of the trend, the traders will have to keep a close watch on the $42 level.

Also Read: Aptos (APT) Price Prediction 2025: Can It Soar from $4.22 to $19.90?

RSI and MACD Suggest Neutral to Bullish Outlook

The Relative Strength Index (RSI) of HYPE is 50.41, reflecting neutrality in the market. This indicates that HYPE is not overbought or oversold. An RSI over 50 would indicate another wave of bullish activity, whereas a drop below 50 may indicate a change towards bearishness. 

Source: TradingView

The Moving Average Convergence Divergence (MACD) also indicates slight positive divergence. MACD is at 0.039, whereas the signal line stands at -0.909. This indicates a modicum of bullishness, but this trend needs additional price correction. 

Open Interest and Volume Surge for HYPE

According to CoinGlass data, the trading volume rose by 19% to $1.83 billion. The open interest has been rising by 1.33% to the value of $2.29 billion. This growth is an indicator of an active market. The OI-weighted funding rate stands at 0.0044%, indicating a stable yet positive outlook.

Source: CoinGlass

The growth of HYPE is significant daily, yet there are fluctuations in the short-term perspective. The traders can observe vital points of support and a technical indicator to see how the market will move in the future.

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