HYPE Price Analysis: Is a Top 10 Crypto Breakout Imminent?
HYPE Price Analysis – Hyperliquid (HYPE) has been on an impressive run recently, positioning itself as one of the most profitable DeFi tokens in the cryptocurrency market. The token hit its second all-time high (ATH) within a week, pushing its monthly gains to a remarkable 36%. This bullish momentum brings HYPE closer to breaking into the top 10 cryptocurrencies by market capitalization, drawing increasing attention from traders and investors alike.
Investor Sentiment Shifts as Chaikin Money Flow Signals Strong Capital Inflows
The recent rally is supported by a significant change in investor behavior, highlighted by the Chaikin Money Flow (CMF) indicator. After a prolonged period of outflows that pushed CMF to a two-month low, HYPE is now experiencing robust capital inflows, signaling renewed confidence among market participants. This recovery in CMF coincides with the latest ATH and suggests that investors are actively buying back into the token.
Analysis of the broader market momentum shows that the majority of traders are currently betting on a price increase. However, a potential downside risk exists if HYPE breaks below the $40.14 support level, which could trigger approximately $3.15 million in long liquidations. Despite this, the low number of short positions indicates limited downside pressure, allowing HYPE to sustain its bullish trajectory.
HYPE Price Maintains Strength Above Key Support Levels
Currently trading at $44.61, HYPE recently reached an intraday ATH of $44.79, marking an impressive 11.7% increase in the last 24 hours. The price action shows strong bullish sentiment with traders optimistic about continued gains. After a minor retracement, HYPE found solid support at $40.14, indicating market resilience and strong demand.
Looking ahead, if this momentum continues, HYPE’s next target could be $50.00, representing an 11.6% increase from the current price. However, investors should watch closely for any shift toward bearish sentiment that might increase selling pressure, potentially pushing the price back toward the critical support at $40.14. A decisive break below this level could invalidate the current bullish outlook.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
