Hyperliquid’s native token, HYPE, is on fire. Trading just shy of its all-time high of $39.96, the token surged to $39.41 on Tuesday, stoking optimism across the crypto market. With a 16% weekend rally and strong technical and on-chain indicators, HYPE’s bullish momentum looks poised to continue.
𝗛𝘆𝗽𝗲𝗿𝗹𝗶𝗾𝘂𝗶𝗱 𝗠𝗮𝗿𝗸𝗲𝘁 📊 $HYPE — $40.92 (+11.7%) | 37,260 sats (+9.6%)
— Maurice (@mauricedefi) June 10, 2025
🟢MC: $13.67B | FDV: $40.92B
🟢Rank #11
🟢HYPE.D 0.39%
🟢Volume: $449M
🟢Funding Rate: +158%/y
🟢30-day MA: $35.83
🟢TVL: $549M
🟢Perps Volume: $8.08B
🟢Revenue: $1.25M pic.twitter.com/gV53ybryDV
The driving force behind this explosive move? A perfect storm of technical strength and growing market conviction. HYPE has formed an ascending triangle — a classic bullish pattern — signaling a potential breakout. The structure projects a target of $46.35, aligning with the 141.40% Fibonacci extension drawn from December’s $35.51 peak to April’s $9.32 low.
Momentum indicators reinforce the setup. The Relative Strength Index (RSI) stands at 68, indicating strength without overbought conditions. Meanwhile, the Moving Average Convergence Divergence (MACD) approaches a bullish crossover — a common precursor to further gains.
On-chain metrics add credibility to the rally. Open Interest has skyrocketed to a record $1.69 billion, up sharply from $1.42 billion, while Total Value Locked (TVL) on Hyperliquid has hit an all-time high of $1.97 billion. These figures reflect deepening capital commitment and growing demand for HYPE-linked services.
Market structure also favors the bulls. Funding rates remain neutral to slightly positive, signaling healthy sentiment without the froth of speculative excess. Clean liquidation profiles across exchanges suggest limited downside risk from cascade sell-offs.
Perhaps most telling is the broader capital rotation into the HyperEVM ecosystem. As funds shift from legacy chains to new narratives, Hyperliquid stands out as a rising star. Some analysts even draw comparisons to Cardano. If HYPE were to match Cardano’s market cap, the token could theoretically climb to $72.87 — a massive upside from current levels.
Key resistance remains the previous all-time high of $39.96. A decisive breakout could open the path to $46.35. Support is firm at $33.01, the recent local low. As long as this level holds, the bullish thesis remains intact.
Also Read: Hyperliquid Hit by $166M Outflow After Ethereum Whale Liquidation Triggers $4M Loss
With strong technicals, surging TVL, and institutional interest rising, HYPE’s rally appears far from over. Traders eyeing the breakout zone may want to brace for a swift and powerful move.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
