As the broader crypto market struggles, Hyperliquid [HYPE] remains on the rise and appears poised for a significant price increase. At press time, the asset’s price had risen by more than 6.50% in the previous 24 hours, trading at $36.91.
Along with the price increase, HYPE’s trading volume increased by more than 45% to $451.98 million during the same period, implying that market participants, including traders and investors, are interested in the current trend.
HYPE signals 30% upside potential
In fact, HYPE’s price action tells the same story. According to AMBCrypto’s technical analysis, the asset’s daily chart shows that it is on the verge of breaking out of a strong resistance level at $36.50, which it has been facing since November 2025.
Meanwhile, its recent performance, recording a surge of over 24% in just three days despite current market conditions, suggests that HYPE could easily breach this hurdle and potentially open the door for the next leg up.
Source: TradingViewBased on the current price action, if HYPE’s upside momentum continues and it closes a daily candle above $37, the asset could see another 30% price jump, potentially reaching the $48 level in the coming days.
However, a price reversal is also possible, as this has occurred multiple times in the past after the asset reached this level.
Despite the 24% price surge, HYPE’s Relative Strength Index (RSI) stood at 67.31 at press time. This indicates that the asset is still below the overbought zone and has enough room to continue its upward momentum. Meanwhile, the Chaikin Money Flow (CMF) stood at 0.17, signaling steady buying pressure in the market.
Decoding traders and investors activity
Besides all this, derivatives data from CoinGlass reveals that intraday traders are currently following the market trend.
According to the latest exchange liquidation map, traders are strongly betting on the $34.90 level on the downside and $37.40 on the upside. At these levels, they have built $20.39 million in long-leveraged positions and $7.99 million in short-leveraged positions.
This indicates that traders’ confidence is stronger on the downside support level and in long positions, as they believe the HYPE price is unlikely to fall below the $34.90 level anytime soon.
Source: CoinGlassMeanwhile, Hyperliquid’s Total Value Locked (TVL) continues to rise. Data from DeFiLlama shows that since the beginning of March 2026, Hyperliquid’s TVL has increased from $4.247 billion to $4.507 billion.
This indicates growing investor confidence and increased capital inflow into the protocol, further strengthening the bullish outlook.
However, top holders appear to believe a potential reversal may occur, as they seem to be offloading their holdings. Analytics tool Nansen shows that over the past 24 hours, HYPE’s top 100 wallet addresses have notably reduced their holdings, signaling a possible shift in sentiment.
Source: NansenFinal Summary
- Hyperliquid appears bullish and is on the verge of a breakout, with a potential 30% price uptick in sight.
- Derivatives data show that intraday traders are strongly bullish on the asset, as long-leveraged bets are significantly outpacing those placed on short positions.
Source: https://ambcrypto.com/hyperliquid-why-this-price-level-could-dictate-hypes-48-rally/
