The price of Hyperliquid (HYPE) approaches its previous all-time high of $51.17, buoyed by increasing trading volume.
Current HYPE Situation Overview
HYPE is currently trading at $50.84, just 2% below its all-time high. The doubling of trading volume compared to prior days indicates rising interest in the token.
Chart Analysis and Support Levels
The current trading of HYPE shows consolidation within a bullish ascending triangle formation. The horizontal resistance level stands at $51.17, while support is set at $44.80, correlating with the 0.618 Fibonacci level. This signals that buyers are actively accumulating the token.
Prospects for Further HYPE Growth
According to Fibonacci analysis, HYPE is expected to potentially rise to $53.45 (1.0 extension) with a more ambitious target of $61.52 (1.618 extension). The current price structure is also backed by a bullish fan formation, indicating likely positive trends in continued upward movement.
As HYPE approaches its all-time high, traders and investors closely monitor the $51.17 level, which will serve as crucial support amid rising volatility.
