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Hyperliquid (HYPE) Could Soar by 40% But Under This Condition: Details

Hyperliquid (HYPE) Could Soar by 40% But Under This Condition: Details

Most leading cryptocurrencies have headed south over the past 24 hours, yet Hyperliquid’s HYPE is among the few to defy the latest red wave. While it has risen by a mere 1.5%, one analyst assumed it might be gearing up for a staggering 40% pump in the near future.

The Necessary Condition Currently, HYPE trades at around $54.70, placing it above the lower boundary of an important channel depicted by Ali Martinez.

He suggested that if the asset holds the $53 level, a move up to $75 is possible. Also speaking on the matter was Altcoin Sherpa, who claimed that HYPE’s current level is “a good spot for a bounce.” “Expecting huge tradfi trading volumes to come over the next few days too, which helps,” the analyst added.

Some on-chain signals also suggest that the asset may post additional gains in the short term.

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