hyperliquidWhile ‘s local asset, HYPE, continues to hold on above the critical support zone, the bullish outlook in the market is maintained. The fact that buyers remain active at current levels indicates that the upward structure has not been disrupted despite the asset’s recent horizontal course.
Support and resistance levels are monitored in the price
While HYPE was traded at $61.01 at the time the news was prepared, its trading volume in the last 24 hours was $235.1 million and its market value was $15.43 billion. The 2.41% increase recorded in the last 24 hours was among the factors that supported the expectation of recovery in the price structure.
Cryptocurrency analyst Bitcoin Enthusiast notes that HYPE maintains a key support area, which keeps the overall bullish formation valid. Analysts emphasize that there is limited buying interest at current levels, and that this support should not be broken in order to maintain the upward area.
Bitcoin Enthusiast points out that HYPE maintaining the critical support zone does not invalidate the bullish structure despite the consolidation process.
In terms of the medium-term outlook, the $74 level stands out as the main resistance point. According to analysts, if this level is exceeded in the high time frame and a close is made above it, the cup formation can be confirmed. In such a scenario, the $172 level can be viewed as a stronger target. On the other hand, falling below $58 could weaken the current positive outlook.
| Indicator | Level |
|---|---|
| current price | $61.01 |
| critical resistance | 74 dollars |
| Downside risk threshold | 58 dollars |
| possible target | 172 dollars |
Protocol revenues support growth
NSB Intel data shows Hyperliquid’s perpetual futures protocol has risen to sixth place among platforms collecting daily fee revenue. The protocol, which generated approximately $1.9 million in fee income in the last day, left Canton behind in this field. Hyperliquid is known as a platform that focuses on derivative transactions in the field of decentralized finance.
NSB Intel data reveals that Hyperliquid earned nearly $1.9 million in fee revenue in the last 24 hours, placing it in the top six in daily revenue rankings.
Increasing fee revenues indicate that user interaction and transaction activity on the platform is strengthening. This chart shows that Hyperliquid continues to expand its influence within decentralized finance and remains competitive against leading DeFi platforms.
Market momentum supports HYPE
The technical outlook on HYPE and the increase in network activities stand out as two key elements supporting the asset’s upward movement. This outlook is accompanied by the improving momentum in the crypto market and the upward trend in Bitcoin price.
However, it will continue to be decisive for the price to maintain the critical support zone. If the purchasing power continues, HYPE may retest major resistance levels. If the support level is lost, momentum may weaken and the risk of correction in the market may increase.
