Altcoins News
By Dan Saada
1 / 8
Hyperliquid’s native token, HYPE, is turning heads again after a powerful 105% rally in just one month. With its price reclaiming the $20 level and pushing higher to $21.
2 / 8
At the core of this rally is a resurgence in market confidence, partly triggered by Hyperliquid’s major updates. On May 5, the protocol introduced a new fee and staking system.
3 / 8
Another boost came from the integration of Ethena Labs’ USDe stablecoin into Hyperliquid’s DEX and HyperEVM blockchain.
4 / 8
Technically, HYPE is now in a textbook bullish setup. After rebounding from a low near $10, the token has formed a clean ascending triangle pattern.
5 / 8
Indicators also support the bullish case. The 20-day and 50-day exponential moving averages (EMAs) have crossed upward, suggesting a trend shift in favor of the bulls.
6 / 8
On-chain data strengthens the bullish outlook. Trading volume spiked to $5.27 billion on May 6, almost doubling from April’s levels when momentum had cooled.
7 / 8
Looking at liquidation data, there’s potential for short squeezes that could add fuel to the rally.
8 / 8
With bullish technicals, growing volume, and strong fundamentals, HYPE appears well-positioned to challenge the $26–28 resistance in the coming weeks.
The Currency Analytics
Want the full story?