Hyperliquid Hits New All-Time High: Will Momentum Push HYPE Into a Higher Range?

Hyperliquid’s native token, HYPE, prolonged its rally on Thursday, leaping over 8% to commerce close to $58.77. The transfer comes after rebounding from its earlier report of $57.40 and locations the token simply shy of the essential $60 psychological barrier.

Driving this surge is the profitable integration of USDC and Circle’s Cross-Chain Transfer Protocol (CCTP V2), now dwell on Hyperliquid’s Ethereum Virtual Machine (EVM).

The improve enhances liquidity and safety throughout HyperCore and HyperEVM purposes, facilitating quicker and smoother deposits for DeFi customers. Analysts recommend this milestone may appeal to institutional merchants, boosting HYPE’s long-term adoption.

Record Revenue Strengthens Investor Confidence

Beyond worth motion, Hyperliquid’s fundamentals are equally spectacular. According to Artemis Terminal, the community generated $2.5 million in charges in a single day, surpassing business leaders like Ethereum and Solana.

A Reflexivity Research report confirmed that Q3 was Hyperliquid’s strongest quarter but, with complete charges reaching $250.45 million, web earnings to token holders amounting to $243.59 million, and a crew dimension of simply 11 members.

This lean however high-performing setup has fueled optimism that Hyperliquid can proceed scaling with out dropping effectivity. Combined with staking incentives and rising trade listings, many merchants see HYPE as one of the vital promising tokens within the present market.

Hyperliquid (HYPE)’s Wedge Pattern Raises Caution

Despite robust fundamentals, technical evaluation suggests warning. On the two-hour chart, HYPE touched $59.36, testing the higher boundary of a rising wedge formation, a sample typically related to weakening momentum.

The Relative Strength Index (RSI) is nearing overbought ranges, with bearish divergence forming as worth makes new highs with out matching momentum. Analysts warn that a rejection at $59.36 may set off pullbacks to $55 help, with deeper draw back targets at $52–$48 if promoting stress builds.

However, if bulls defend help and make sure power with a bullish engulfing candle, HYPE may rebound towards $60 and past, probably aligning with Polymarket merchants who forecast short-term strikes towards $70.

For now, the road within the sand stays at $59.36. Whether Hyperliquid breaks increased or faces a wedge breakdown will decide if HYPE’s new all-time high transforms into sustained momentum, or simply a momentary peak.

Cover picture from ChatGPT, HYPEUSD chart from Tradingview