Hyperliquid (HYPE) price has surged 37% in the last seven days, following one of the largest airdrops of the year. Momentum indicators like RSI and BBTrend suggest the uptrend remains intact, with room for further gains, though the pace has slowed compared to its peak.
If the bullish momentum continues, HYPE could test a new all-time high near $28.95 and potentially rise to $30 or $35. However, a weakening trend could expose the price to a correction, with strong support at $15 representing a potential 42% downside.
HYPE RSI Is Currently Far from Overbought
HYPE’s RSI is currently at 55.8, up from 46 yesterday, indicating a notable recovery in momentum. This increase suggests that buying pressure is returning after a recent cooldown for the perpetuals DEX. Between December 13 and December 15, when HYPE reached a new all-time high, the RSI stayed above 70, reflecting overbought conditions.
The current reading, while below the overbought threshold, shows a shift toward a more bullish sentiment, which could support further price stabilization or gains in the short term.
The RSI (Relative Strength Index) measures the magnitude and velocity of price movements to evaluate whether an asset is overbought or oversold. Readings above 70 typically signal overbought conditions and potential pullbacks, while readings below 30 suggest oversold conditions, often preceding rebounds.
With HYPE RSI at 55.8, it indicates neutral-to-bullish momentum, suggesting room for further upward movement as it remains comfortably below overbought levels. If the buying momentum continues, HYPE could test new resistance levels, but if the RSI stalls, it might face short-term consolidation.
Hyperliquid BBTrend Is Still Positive
HYPE’s BBTrend is currently at 28.4, remaining positive since t
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Author: Tiago Amaral
