Hyperliquid crypto (HYPE) is trading around $35.83 after a volatile week that saw long wicks and heavy volume. Analysts point to renewed bullish pressure after buyers defended key technical zones.
With Bollinger Band rejections and recovery above December highs, Hyperliquid price could be setting up for another leg higher if momentum holds.
Hyperliquid Crypto Buyers Defend Key Levels
Crypto trader @gnarleyjs observed two long downside wicks followed by a strong weekly close above the December top, suggesting that buyers stepped in hard on $HYPE.
The price briefly dipped toward the lower edge of the Bollinger Bands but snapped back with conviction, an early sign of a potential trend reversal. This action reflects renewed buying pressure, with traders likely betting on support around the $35 level to hold.
As of June 23, 2025, the HYPE token is trading at $35.83, representing a 5.36% increase on the day. Over the past month, the token has gained 8.47%, and its year-to-date performance stands at a solid +49.53%.
It has recently surpassed Bitcoin Cash in market capitalization, claiming the 11th position, and with a daily trading volume of $432 million, it’s clear that liquidity and interest remain strong. HYPE also made it onto the day’s top gainers list on CoinMarketCap despite the overall crypto market’s bearish performance.
$HYPE Technical Analysis: A Neutral But Improving Picture
The overall 1-day technical rating for HYPE is “Neutral,” according to TradingView indicators. However, there’s a split between oscillators and moving averages. Oscillators like RSI (49.57), MACD, and Stochastic RSI indicate indecision or neutrality, while moving averages lean slightly bullish, with 8 indicating Buy and only 5 showing Sell.
Short-term resistance lies around $39.92, a key level from earlier in June. If HYPE can reclaim that zone with strong volume, it could trigger a rally toward the $44–$46 range. Conversely, if the $35 support breaks, the Hyperliquid price may revisit the $31–$32 consolidation zone.
With the Awesome Oscillator and Momentum both in sell territory, it’s clear this is a critical inflection point. Bulls will need to push through overhead resistance quickly to prevent the pattern from turning into a lower-high setup.
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