• HYPE surges 26% weekly, showing strong bullish momentum.
• 21Shares files S-1 with the SEC for a Hyperliquid Spot ETF.
• Technical indicators confirm bullish continuation and breakout potential.
• Analysts predict HYPE could soon reach the $100 mark.

Hyperliquid (HYPE) continues its upward momentum, showing strong positive price momentum in recent sessions. In the past 24 hours, HYPE has gained nearly 3.89%, while on the weekly chart, it marked an impressive 26.51% surge, reflecting rising investor confidence and solid market interest.

At the time of writing, HYPE is trading at $49.40 with a 24-hour trading volume of $862.75 million, marking a 28.44% rise in a single day. The project’s market capitalization has also risen to $16.63 billion, up by 4.13%, signaling continued bullish momentum and heightened trading activity across the market.

Also Read: Hyperliquid (HYPE) Price Aims for $100 Milestone Following 21Shares Spot ETF Filing

21Shares Files for Hyperliquid Spot ETF

In a major development for the Hyperliquid ecosystem, 21Shares has officially filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a Hyperliquid (HYPE) Spot Exchange-Traded Fund (ETF). This marks a major step toward offering direct exposure to HYPE’s market performance through a regulated investment product.

The filing demonstrates growing institutional interest in the Hyperliquid ecosystem, aligning with the broader trend of crypto-focused ETFs gaining traction in traditional finance. If approved, the HYPE Spot ETF could boost liquidity, attract mainstream investors, and further solidify Hyperliquid’s standing within the rapidly expanding decentralized finance sector.

Technical Outlook Suggests Strong Upside Potential

HYPE demonstrates a steady reversal with the help of a broadening wedge formation that has been in play for over 150 days. The weekly charts depict rising volatility with larger price movements, yet with an upward trend. The reversal from the lower trend line symbolizes fresh buying pressure, with the intentions of the bulls to make another upward move in the coming days.

The technical indicators on HYPE suggest a bullish continuation if it manages to stay above the $45 support level. Breaching the $55 to $60 barrier would cement the upside trend towards the $73 to $85 mark, in line with the expected resistance in the upper wedge formation level. The current volume trend in HYPE has been accumulating, which is an optimistic signal for investors who seek growth in the upside direction.

Fundamentally, HYPE is still strong with a market cap of $13 billion in contrast to the $49 billion FDV, pointing out undervaluation potentials. Crypto analyst @cryptclay believes that price doubling would not be difficult for HYPE because of the token’s strength and configuration on the charts. A confirmed breakout could drive HYPE toward the $100 mark, solidifying a bullish reversal in the coming weeks.

Also Read: Hyperliquid (HYPE) Price Rises 10% After Robinhood Trading Launch, Is $59 Next?