Hyperliquid Recovers But Faces Its First Barrier At $43

The price of Hyperliquid (HYPE) is in a sideways trend during a bull market.

Hyperliquid price long-term analysis: bullish

The rising trend has come to a halt below the $44 mark. Since May 25, the crypto has been trading above the $32 support and below the $44 resistance level. The cryptocurrency price has bounced below and above the moving average lines over the past month.

Today, the cryptocurrency price stopped above the 21-day SMA support. The uptrend will continue if buyers sustain the bullish momentum above the $44 level. The altcoin will rise to a high of $50. The cryptocurrency's decline will continue if the bears break the moving average lines or the $32 support level. A return to HYPE's previous low of $26 is expected. The current value of HYPE is $38.

Analysis of the Hyperliquid price indicators

The price bars are above the horizontal moving average lines, which indicates a sideways movement. The extended candle wicks point above the $44 mark. Long wicks indicate significant selling pressure at the $44 level. HYPE is expected to continue its sideways movement as the price bars are trapped between the moving average lines on the 4-hour chart.

Technical Indicators:

Key Resistance Levels – $40 and $50

Key Support Levels – $30 and $20

What is the next direction for Hyperliquid?

The cryptocurrency has remained in the bullish trend zone as it moves sideways. The altcoin is trading in a limited range between the $37 support and the $41 resistance on the 4-hour chart.

The crypto price is trapped between two moving average lines. It is above the 50-day SMA support but falls below the 21-day SMA barrier. The altcoin will start to rise if it breaks the 41-resistance and the 21-day SMA.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.