Hyperliquid Price Rally: Can Bulls Push Back Toward $59 ATH?
Hyperliquid is up 8.03% over the last day, trading at $47.12 at the time of writing. The action follows a week of erratic trading in which prices fell as low as $43 before rising back above $50. Though it is still 22.36% below its peak of $59.30, which was reached on September 18, HYPE has increased 7.9% during the last 30 days. More activity among traders is evident from the daily trading volume, which has increased by 67.85% to $409 million. Hyperliquid futures volume increased 13.85% to $1.8 billion, while open interest increased just 0.61% to $2.28 billion, according to CoinGlass data. This trend indicates that although more contracts are being exchanged, traders are not making significant long-term commitments.
Hyperliquid Launches Hypurr NFTs: More Than Just Digital Art!
The Hyperliquid Foundation introduced Hypurr NFTs, a line of 4,600 digital collectibles with cat themes that are installed directly on the HyperEVM, on September 28. Early users from the Genesis Event in November 2024 received the majority of these NFTs, totaling 4,313. NFT artists, Hyperliquid Labs, the Foundation, and other contributors received the remaining funds.
Hypurr, in contrast to typical NFT drops, was created as a keepsake for early backers and is closely associated with Hyperliquid’s network. Based on HyperEVM, the NFTs access the same liquidity that drives the trading layer of the chain. This design elevates them above the level of art. Developers can use HyperBFT consensus and HyperCore liquidity to create apps based on them.
HYPE Price Analysis: Will $44 Support Hold or Break Toward $30?
HYPE is trading between $44 and $47, with $44 acting as a strong support level, based on the charts. Resistance at $50 has restricted higher moves since the most recent downturn. Neutral momentum is recommended with a relative strength rating of 46. There appears to be some bearish pressure as the MACD remains negative. Tightening Bollinger Bands is frequently an indication of an impending dramatic move.
HYPE may retest $59, the September high, if it clears $50 with significant volume. However, the price can return to the $30 range if it loses $44. Bulls currently have a case due to NFT-driven demand, but the next significant tests will be at technical levels.
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