Hyperliquid (HYPE) Forms New All-Time High, Price Nears $50

Hyperliquid (HYPE) price has been on a roll over the past few weeks, emerging as one of the most profitable tokens in the crypto space.

The DeFi token has achieved its second all-time high within a week, boosting this month’s gains to 36%. HYPE is now approaching entry into the top 10 crypto tokens by market cap.

HYPE Price Continues To Climb

HYPE is currently trading at $44.61, following a new all-time high (ATH) of $44.79 during today’s intra-day session. This marks an impressive 11.7% rise in the last 24 hours.

The altcoin’s price action indicates strong bullish sentiment, attracting attention from traders looking for continued gains in the market.

After reaching its ATH, HYPE experienced a slight dip but managed to maintain support at $40.14. This bounce suggests strong demand and resilience in the market. With a 36% rise this month, HYPE could continue its upward trend, with the next target being $50.00, which is 11.6% above the current price.

If investor sentiment turns bearish and selling pressure increases, HYPE could fall back to the $40.14 support level. A break below this critical support would signal the invalidation of the bullish outlook, potentially leading to losses for investors. 

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