In the fiercely competitive decentralized trading platform arena, Hyperliquid (HYPE) faced a setback, losing 20% since its September peak. However, the determined token swiftly rebounded by over 25%, surging from $39 to $49 on 25th September.
HYPE rebound is far from insignificant. It took root at a key technical support level around $39-40, a zone that attracted fresh buyers. The movement was powerful enough to break through several short-term resistances, including the 7-day exponential moving average (EMA) and the pivot at $45.80. The 24-hour trading volume surged by nearly 30% to reach $361 million, signaling a significant revival of interest.
However, caution remains warranted. Momentum indicators, such as the MACD, still remain in negative territory, suggesting that the underlying trend is not yet firmly bullish. The main battle is now taking place at the psychological resistance of $50, further reinforced by the 30-day moving average. A confirmed breakthrough of this level could pave the way for a return to $55.
This HYPE rebound cannot be separated from the context of its rivalry with Aster. Backed by the family office of Binance‘s founder, Aster has experienced a meteoric rise, capturing nearly $228 billion in trading volume in a single week, almost three times that of Hyperliquid over the same period. This competition has sown doubt about Hyperliquid’s previously unchallenged dominance.
Some analysts suggest that HYPE’s rebound could be partially fueled by a cooling of the initial euphoria surrounding Aster. After a surge of more than 2,200% since its mid-September launch, the ASTER token has experienced a slight correction.
It’s possible that some capital, having profited from Aster’s rally, is now repositioning into HYPE, perceived as temporarily undervalued. The “DEX war” is far from over, and HYPE’s performance is now intrinsically linked to its ability to innovate and regain market share.
| Indicator | Key Level | Bullish Scenario | Bearish Scenario |
|---|---|---|---|
| Support | ~$44 | Support holds | Retest of $39-40 |
| Resistance | ~$50 | Closing > $50 | Rejection below resistance |
| Target | $55 | Rally continuation | Return to consolidation zone |
| Rivalry | Aster Volumes | Aster slowdown | Aster’s continued dominance |
HYPE’s short-term future will depend on its ability to sustainably break through the $50 barrier. Success would validate the strength of the rebound and could ease investors’ concerns about Aster’s rising power. Conversely, failure below this resistance could signal that this rebound was merely a technical bounce in a broader downtrend, especially with the massive unlock of $12 billion worth of HYPE tokens scheduled to begin in November.
In conclusion, HYPE’s 25% rebound is an encouraging sign of resilience, but the road ahead remains challenging. The platform must prove it can not only withstand competitive pressure but also continue to innovate to justify its valuation and fully regain market confidence.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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