bitcoin
Bitcoin (BITCOIN)
$109,971 1.37%
ethereum
Ethereum (ETHEREUM)
$3,880 0.96%
binancecoin
BNB (BINANCECOIN)
$1,131 4.66%
solana
Solana (SOLANA)
$191.38 4.03%
ripple
XRP (RIPPLE)
$2.41 0.42%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 1.16%
pepe
Pepe (PEPE)
$0.000007 0.87%
bonk
Bonk (BONK)
$0.000014 -0.10%
bitcoin
Bitcoin (BITCOIN)
$109,971 1.37%
ethereum
Ethereum (ETHEREUM)
$3,880 0.96%
binancecoin
BNB (BINANCECOIN)
$1,131 4.66%
solana
Solana (SOLANA)
$191.38 4.03%
ripple
XRP (RIPPLE)
$2.41 0.42%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 1.16%
pepe
Pepe (PEPE)
$0.000007 0.87%
bonk
Bonk (BONK)
$0.000014 -0.10%
bitcoin
Bitcoin (BITCOIN)
$109,971 1.37%
ethereum
Ethereum (ETHEREUM)
$3,880 0.96%
binancecoin
BNB (BINANCECOIN)
$1,131 4.66%
solana
Solana (SOLANA)
$191.38 4.03%
ripple
XRP (RIPPLE)
$2.41 0.42%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 1.16%
pepe
Pepe (PEPE)
$0.000007 0.87%
bonk
Bonk (BONK)
$0.000014 -0.10%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Hyperliquid Price Forecast: US Expansion Could Push HYPE to $50

Highlights:

  • HYPE is trading at the $39.35 resistance after an intraday rally
  • A push through the $39.35 resistance could push HYPE to $50
  • Broader market momentum could help sustain the rally

Hyperliquid (HYPE) is one of the top performers in the last 24 hours. In this period, HYPE has gained by 11% to trade at $39.22. A surge in trading volumes has also accompanied Hyperliquid’s gains. Volumes have shot up by 15.86% to stand at $691.2 million. This goes to show that buyers are coming in strongly anticipating an even bigger surge in the price of HYPE. With such strong momentum relative to the rest of the market, HYPE could be well on its way to retesting its recent all-time highs. There are a couple of factors supporting the bullish momentum that Hyperliquid has built up so far. 

Advertisement

Banner

Hyperliquid Set for Major US Expansion

One of them is the fact that it is soon to get a significant expansion in the US market. The Hyperliquid team has announced that they have created a new entity called Hyperliquid Strategies (HSI). Through HSI,  they have filed an S-1 registration with the SEC. The move is meant to raise $1 billion that will be used for deepening the HYPE treasury and expanding operations in the US market.

As part of the S-1 filing, HSI will issue 160 million in common stock. Money from the sale of these shares will be used for general corporate purposes. More importantly, it will go towards the buying and staking of the HYPE token. This has excited the market because such a purchase will help reduce the amount of HYPE in circulation. It could help push the price higher in the long term.

Hyperliquid US Expansion Loops In Strategic Wall Street Figures

Investors are also excited because the deal involves influential people. The management of HSI will include influential people like David Schamis, who will play the role of CEO, and Bob Diamond, who was at one time the CEO of Barclays, playing the role of Chairman. Having such influential people is a big deal because they have deep institutional connections on Wall Street.

As such, they are likely to help draw in institutional money into HYPE through HSI. Such could play a significant role in pushing Hyperliquid to new highs in the short to medium term. The HSI deal is designed to generate new demand for HYPE going into the future. Combining this with Hyperliquid’s existing demand and a strong token burn feature could see the price keep pushing higher going into the future. 

Possible US Rate Cuts Could Send HYPE Higher

The HSI deal is also coming at a time when the broader cryptocurrency market could be headed for a strong rebound. Bitcoin is starting to show some momentum after hitting a critical support level. If bulls take control and Bitcoin rallies back to $120k, top altcoins like Hyperliquid could follow.

This momentum is likely to come from the growing expectation that the Federal Reserve could soon cut rates one or two more times this year. Such a move could trigger a strong capital flow into risk-on assets such as cryptocurrencies. With the altcoin market already flooded, most of this money would likely flow into top altcoins like Hyperliquid in the short to medium term.

Technical Analysis – Hyperliquid Trading At Major Resistance

Hyperliquid has rallied for the better part of the last 24 hours. It is currently trading at the $39.35 resistance level. If bulls take control and push Hyperliquid through the $39.35 resistance, then a rally to $50, or higher, could follow in the short term.

HYPE
Source: TradingView

On the other hand, if bulls fail and there is a correction, HYPE could drop back to the $34.80 support. Of these two scenarios, the odds are higher for a rally to $50. That’s because of the HSI news and the rising bullish momentum across the market.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner