- HYPE saw a bullish market structure break and may be set for more gains
- The decentralized exchange witnessed rising numbers of trades and new users in recent weeks
Hyperliquid [HYPE] has shed close to 4% of its value in the last 24 hours, with the token’s daily trading volume down by nearly 9% from the previous day. This, after the bullish market structure break the token achieved on 30 January as its price climbed past $23.74 on the charts.
Source: HYPE/USDT on TradingView
In a previous analysis, AMBCrypto noted that these strong gains could be the start of a larger rally.
That long-term bullish outlook has not changed yet. The RSI reflected bullishness alongside the price action. Other metrics revealed that the growth of this DEX, (decentralized exchange) equipped with its own L1, may be feasible in the coming months.
