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HYPE Price- Will $30 Become the New Buy Zone?
HYPE Price– On June 2, Binance U.S. announced its plan to list Hyperliquid (HYPE) for spot trading. The news sparked a nearly 7% price surge, extending HYPE’s weekly rally to almost 20%. The altcoin rose from $31 to around $37.85 since Sunday, showing a remarkable 300% increase from its April lows.
Can HYPE Maintain Its Momentum?
Price Retests December High
HYPE previously hit an all-time high of $42.2 on KuCoin in December. After reaching $40 in May, the Relative Strength Index (RSI) signaled overheating, triggering a cooldown to $30. Now, with renewed bullish sentiment and Binance U.S. exposure, HYPE is once again approaching that resistance zone.
Indicators Suggest Possible Pullback
Despite the current momentum, RSI is again approaching overheated territory. Additionally, the On Balance Volume (OBV) is testing a resistance level last seen in February. If OBV fails to break higher, a pullback could follow.
Technical indicators suggest that if a correction occurs, price may revisit the $30 support level—this week’s springboard—or drop toward the 50-day EMA, around $27. This zone also aligns with the 50% Fibonacci retracement, making it a potential bounce point.
Liquidity Zones Point to Critical Re-Entry Levels
According to CoinGlass’s 2-week liquidation heatmap, a significant liquidity pool lies between $28 and $30. This area could act as a price magnet during volatility, attracting re-entries from market participants.
However, this short-term bullish outlook could be invalidated if HYPE falls below $30 and its key moving averages.
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.
