adminIn recent developments, key takeaways HYPE is up 10% in the last 24 hours, outperforming the other major cryptocurrencies. The coin could surge towards the $50 psychological level in the near term. Hyperliquid (HYPE) nears $40 as US-Iran ceasefire boosts market sentiment HYPE, the native coin of the Hyperliquid DEX, is approaching the $40 mark on Wednesday, extending its recovery linked to the US-Iran ceasefire. Retail demand for HYPE continues to rise, driving increased futures Open Interest amid a broader market rally. Technically, HYPE has broken out of a falling channel pattern on the 4-hour chart, signaling a bullish near-term outlook. Throughout the US-Iran conflict, Hyperliquid showed resilience, with its 24/7 trading platform for crude oil and other commodities gaining traction during the crisis. The ongoing recovery in the crypto market, driven by the ceasefire, has increased anticipation for HYPE’s recovery. According to CoinGlass data, HYPE futures Open Interest (OI) reached $1.64 billion on Wednesday, marking a 9% increase in the last 24 hours. Typically, such an OI expansion during a spot market rally signals growing demand entering the leverage market. Liquidations in the last 24 hours totaled $4.49 million, led by $4.28 million in short liquidations, indicating a sell-side weakness. Additionally, the OI-weighted funding rate remains positive at 0.0082%, showing sustained bullish sentiment among traders. Will HYPE rally towards the $50 mark? The HYPE/USD 4-hour chart is bullish and efficient as Hyperliquid is the best performer among the leading cryptocurrencies. HYPE is trading above the 50- and 200-period Exponential Moving Averages (EMAs) on the 4-hour chart, reflecting a potential trend reversal. At the time of writing, HYPE trades around $39.00, extending the breakout gains of a falling channel pattern. The Moving Average Convergence Divergence (MACD) line is above its signal and the zero line, suggesting strengthening upside momentum. The Relative Strength Index (RSI) at 66 remains below overbought territory, suggesting firm buying pressure without clear exhaustion at this stage. If the rally persists, HYPE would likely surge towards the first major resistance level at $43. A daily candle close above this level would pave the way for further rally towards the $50 psychological zone. However, if the market reverses, HYPE could test the 200-period EMA at $37.10. A drop below this support zone would nullify the bullish breakout and deepen the downside risk. The post Hyperliquid outperforms other major coins, eyes further gains appeared first on CoinJournal.
Looking closer, market participants highlight key drivers such as liquidity flows, macro risk appetite, regulatory headlines, and on-chain activity. Short-term swings often reflect liquidation cascades and funding imbalances, while spot volumes and exchange inflows set the broader tone.
Analysis: The medium-term picture hinges on whether buyers can sustain momentum without excessive leverage. If flows continue favoring majors like BTC and ETH, altcoins could experience a staggered rotation instead of a broad-based rally. Meanwhile, policy clarity in key jurisdictions remains a decisive catalyst; clearer rules typically compress risk premia and attract institutional allocations. Beyond price action, on-chain metrics such as active addresses, fees, and stablecoin velocity help validate trend strength.
Outlook: Over the next few weeks, observers will watch price acceptance above recent resistance, derivatives positioning, and ETF-related flows. A constructive setup would feature rising spot demand, contained leverage, and improving breadth across sectors such as DeFi, infrastructure, and Layer-2 ecosystems.
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