- Hyperliquid (HYPE) surged 20% following its Binance U.S. listing announcement, pushing it close to its all-time high near $42.
- A potential pullback to the $28–$30 zone could offer a strategic buying opportunity before a possible breakout above $40.
The crypto market is buzzing with excitement as Hyperliquid (HYPE) rockets higher, fueled by a major catalyst — its upcoming listing on Binance U.S. The announcement, made on June 2nd, lit a fire under the altcoin, triggering a 7% jump and pushing HYPE’s mid-week rally to an eye-popping 20%.
Since Sunday, HYPE has climbed from $31 to nearly $38, inching closer to its all-time high of $42.2 set in December 2023. The question now on every trader’s mind is: Is this just the beginning?
HYPE Approaches Key Resistance — Price Discovery Ahead?
HYPE’s momentum appears to be reigniting after a May correction, which saw it drop from $40 to a support zone around $30 due to overheated RSI levels. Now, with renewed bullish sentiment and the Binance U.S. spotlight, HYPE is on the verge of retesting the $40–$42 range — a zone that could signal price discovery if breached.
Still, caution is warranted. The RSI is once again approaching overheated territory, and the On-Balance Volume (OBV) is brushing against a historical resistance from February. A failure to break higher could see a healthy pullback, presenting a new buying opportunity around $30 or even $27 — the latter coinciding with the 50-day EMA and the 50% Fibonacci retracement level.
Also read: Top Analyst Predicts XRP Price Surge to $38 After Confirming 7-Year Double Bottom Breakout
$30: The Golden Zone for Bulls?
Market data from CoinGlass further strengthens the case for the $28–$30 region being a critical liquidity zone, loaded with leveraged longs. A potential “liquidation hunt” could drag prices back to this area, offering a discounted entry point for fresh buyers. If the pullback holds and sentiment remains bullish, traders eyeing a bounce could target the $40 mark for a potential 28%–50% gain.
What’s Next?
The bulls are in control for now, but the coming days will be decisive. A strong push past $40 could open the floodgates, while a rejection or breakdown below $30 might put the rally on hold.
For now, all eyes are on HYPE — and whether this Binance-fueled breakout is just the start of something much bigger.