While the search for recovery continues after the recent corrections in the cryptocurrency market, hyperliquid‘s native token, HYPE, maintains its relatively strong outlook. The price approaching the historical peak again increased the interest in this asset on the technical side. On the other hand, although recovery efforts are prominent on the Bitcoin, XRP and Dogecoin side, the main resistance levels have not been fully overcome yet.
HYPE retests historic top zone
HYPE is trading around $71 following the recent rally. Technical indicators show that the price remains significantly above the 20-day exponential moving average of $61, the 50-day average of $54, and the 100-day average of $49. The wide gap between the moving averages indicates that buyers maintain the upper hand in the short term.
However, there is also an important risk that draws attention in the chart. HYPE has tested the $75 to $77 range several times in recent weeks. Repeated testing of the same resistance zone keeps the possibility of a strong breakout alive, while also keeping the risk of a double top formation on the agenda.
For HYPE, around $77 stands out as the main area to watch. If this level is clearly exceeded, psychological targets of $ 80 and then $ 100 may come to the fore.
The fact that the transaction volume remains high compared to previous periods shows that market participants are actively taking positions within this band. While the relative strength index is above the 60 level, this chart reveals that the upward momentum has not completely disappeared. However, if the sales gain strength, the first important support is $ 61, followed by the $ 54 region.
Bitcoin rebounds, but major thresholds remain
After the sharp selling wave that fell below $60,000, Bitcoin made a significant reaction rise and approached the $65,000 region. Despite this, it is considered too early to say that the general outlook has returned to a strong upward structure.
The most critical level in the short term stands out as the 20-day exponential moving average at $67,500. Although Bitcoin has rallied from local bottoms to more than $5,000, it is still trading below key moving averages. While the 50-day average is around $73,000, the 100 and 200-day averages are higher.
The increase in volume and the recovery of the RSI indicator from the oversold zone indicate that the rise may not be just a weak reaction move. However, if $67,500 is not exceeded, the risk of a re-retreat towards the $62,000 region remains on the table.
After falling below the $1.30 support, XRP found buyers around $1.10 and recovered towards $1.25. Although the short-term outlook has improved from a technical standpoint, the former support zone of $1.30 is now acting as resistance. In addition, the fact that the 20 and 50-day moving averages are in the same region makes the upward movement difficult.
If XRP makes a strong close above $1.30, $1.38 and then the $1.50 region can be watched as new targets. Otherwise, it seems possible that the price will be stuck between 1.15 and 1.30 dollars.
Dogecoin, on the other hand, failed to sustain its recovery attempt in May and remains below all major moving averages, around $0.086. The break of the support trend line, which has been carrying the rise since February, is considered the most important deterioration in the technical outlook. The nearest resistance lies at $0.091, with a stronger zone located between $0.10 and $0.11.
The recovery of the RSI indicator from the oversold zone and the increase in volume during the recent decline suggests that short-term stability is beginning to be established in Dogecoin. Despite this, the structure of lower peaks and lower lows is not distorted. Therefore, the current picture points to a balancing process for now, rather than a strong upward reversal.
