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Hyperliquid surges 8.67% with a high trading volume after retesting and bouncing off a key support. Technical analysis hints at $36 as a long-term target.
Hyperliquid, the high-performance decentralized perpetuals exchange, has seen its token, HYPE, surge 8.67% in the past 24 hours, as of this writing. Per CoinMarketCap data, the coin’s trading volume has risen 28.41% following a retest and bounce-off at the $12-$13.5 key support zone on the daily chart.
According to technical analyst Solberg Invest, with the momentum building, traders are eyeing the $19-$27 key resistance zone in the mid-term while targeting $36 in the long-term.
Derivatives data by Coinglass signals heightened open interest (+10.12%) as HYPE’s Open Interest (OI) Weighted Funding Rate turns positive.
With prices fluctuating around the $16.7 level, hype could be geared up for a rally soon. One should watch for the coin’s buying volume, open interest, and Relative Strength Index(RSI) in the current setup to understand HYPE’s next moves.
