TL;DR:
- HYPE records a 45% weekly increase, breaking away from the double-digit losses seen in major altcoins.
- Institutional interest in gold and silver trading within its platform has significantly reduced selling pressure.
- Technical analysts set the next ambitious target above $50 following the current consolidation phase.
On Monday, the Hyperliquid price managed to stay in the green despite the brutal correction currently hitting the cryptocurrency market. Unlike other cryptos such as Solana and Ethereum, which suffered double-digit drops, HYPE is defying the trend and remains in positive territory.
Hyperliquid is trading near $32 at the time of writing, representing an increase of more than 45% compared to last Monday’s figures. In its analysis, AltCryptoGems highlights that this phenomenon is driven by the boom in commodities trading within its ecosystem.
The growing interest in gold and silver within the HYPE ecosystem generated a significant technical breakout and a decrease in selling pressure. Consequently, the token has positioned itself as one of the most resilient assets in the market.
Technical Analysis and Outlook Amid Bitcoin Volatility
The market is optimistic; however, some indicators suggest caution. Specifically, the Relative Strength Index (RSI) is at levels near 66. This value indicates that, following the recent rally, the asset could soon enter an overbought phase.
On the other hand, analyst Altcoin Sherpa notes that while short-term volatility is expected, HYPE remains one of the best options for the spot market. Its relative strength against Bitcoin’s weakness suggests that the momentum could be long-lasting.
Crypto Chase also projects that the asset could aim for the $50 mark once the general market stabilizes. Nevertheless, investors should closely monitor global instability to adjust their positions accordingly.
In summary, the Hyperliquid price demonstrates that projects with real utility can thrive even in adverse macroeconomic environments. For now, the community remains watchful to see if this bullish streak can overcome the next technical resistance levels.
