Hyperliquid Shows Resilience in a Market Chaos
Hyperliquid (HYPE) is demonstrating remarkable stability around $45, dropping only 1% in the last 24 hours while preserving most of its weekly gains. The token has climbed more than 7% over the past seven days, now trading just 9% below its all-time high established in mid-July.
This resilience is explained by growing activity in both spot and derivatives markets, fueling bullish momentum. Trading volumes have surged by more than 50% to reach $537 million in a single day.
On the derivatives side, volume reached $2.65 billion according to Coinglass data, while open interest declined by 1%. This indicates traders are actively adjusting their positions rather than exiting the market, often a sign of consolidation preceding a new wave of increases.
Hyperliquid Establishes Itself Among Crypto Giants
On August 26, Hyperliquid announced that volumes on its platform had reached a new record of $3.4 billion in 24 hours. A significant portion of this record activity came from BTC and ETH pairs, elevating the platform to second place globally for Bitcoin spot trading.
This positions Hyperliquid as the second largest exchange for BTC spot trading across all channels (centralized and decentralized).
This trend is confirmed by DefiLlama data, showing that monthly decentralized exchange volumes exceeded $16 billion in August, compared to $11 billion in July. At the same time, total funds locked on the platform reached $685 million, a six-month high.
Technical Analysis of HYPE: Consolidation Before a New Rally?
On the daily chart, HYPE is consolidating near the middle of its Bollinger Band, just above $45. This suggests a certain stability, but potential for a bullish breakout seems to be forming as the bands begin to tighten.
The MACD shows a slight bearish crossover, indicating short-term caution, while the Relative Strength Index is neutral at 52, reflecting balanced momentum.
However, moving average analysis shows a clearly bullish scenario. From the 10-day exponential moving average (EMA) ($44.16) to the 200-day simple moving average (SMA) ($29.32), all key indicators currently display buy signals, confirming the strength of the trend.
Currently, HYPE shows a selling zone at $47.3 which could be a resistance area protected by smart money. This could push HYPE toward its trendline at $39.
In summary, if support at $45 holds firm, buyers could push the price toward $48.50 and potentially return to July’s high around $50. Conversely, failure to maintain support at $44 (mid-band) could lead to a decline toward $40.50, the lower end of the 7-day range. A break below this level would then trigger broader downward pressure.
Taking a step back, HYPE shows significant liquidity to the south, particularly below supports at $36 and $31.
Furthermore, the VPFR displays a liquidity gap below these $36, and a support breakdown could trigger a cascade of selling down to $22 to $15, representing a 53% drop from its current price.
How to Buy HYPE on Bitget with an AI Assistant
Bitget is a revolutionary platform offering an AI assistant that makes automated decisions. Here’s how to proceed and optimize your HYPE purchases with GetAgent AI:
- Registration: Create an account on Bitget with your email and complete KYC verification.
- Fund Deposit: Fund your account with fiat (USD, EUR) via bank card or transfer, or with cryptocurrencies like USDT.
- Access to HYPE Market: In “Spot Trading,” select the HYPE/USDT or HYPE/USD pair.
- Using GetAgent AI: Activate GetAgent, Bitget’s artificial intelligence tool, to optimize your purchases. Configure it to analyze HYPE trends, target entry points near the $44 support, and execute automated orders on bullish signals, such as a neutral RSI or a breakout above $47.3. GetAgent can maximize your gains by buying during consolidations.
- Place an Order: Choose a market order for immediate purchase or a limit order for a specific price. Validate through GetAgent for optimal execution.
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