HYPE Price Stalls After 60% Surge, but a New All-Time High Stays on the Table
Hyperliquid (HYPE) price has recovered after a pullback following a 60% year-to-date surge, with a potential squeeze forming due to returning spot buyers and heavy short positions.Summary
Hyperliquid (HYPE) price has experienced a recent pullback after a significant 60% surge year-to-date, driven by its expansion into 24/7 TradFi perpetual trading and increasing market share in the decentralized exchange (DEX) space. A hidden bearish divergence on the Relative Strength Index (RSI) initially signaled weakening momentum, but a new bullish divergence has emerged, coinciding with a return of spot buyers and substantial short positions in the derivatives market. The HYPE price broke out of an inverse head-and-shoulders pattern, reaching nearly its target before the pullback. Currently, exchange flows indicate accumulating spot buyers, while over $29 million in short positions are vulnerable to a squeeze if the price rises above $45. Analysts suggest that a daily close above $41 could initiate a rally, with key resistance levels at $43 and $48, potentially leading to a new all-time high around $66. However, failure to maintain support at $36 could invalidate the bullish outlook and trigger a deeper correction.
(Source：BeInCrypto)