TL;DR
- HYPE retests $50 resistance; a sustained breakout may open the way toward $55 and higher targets.
- Two whales bought 358,279 HYPE worth $18M, signaling early positioning from large market participants.
- Hyperliquid’s TVL climbed to $721M in August, the highest level recorded so far this year.
Price Tests Resistance
Hyperliquid (HYPE) is back in focus after a strong move above $50. The token has climbed nearly 12% in the past day and more than 21% over the week, with trading volume crossing $522 million.
Notably, the $50 level has become a key line on the chart. Earlier in August, attempts to break it failed, leading to quick pullbacks. This time, momentum is stronger.
Analyst Ali Martinez said,
If that happens, targets around $52 to $56 come into play. If not, support near $46 could be tested again.
Bounce From Accumulation Zone
The move follows a rebound from the $43 to $45 range, marked as an accumulation area by traders. Alpha Crypto Signal called it “a textbook” setup after the token tapped the zone and pushed higher. At press time, HYPE’s price traded near $50, with stronger volumes backing the move.
Short-term averages also turned positive. The 9-day EMA sits at $46, and the 50-day SMA at $44, both now below the current price. HYPE has also re-entered its upward channel, a sign buyers may be preparing for another run toward $55 or higher.
Whales Enter the Market
Large holders have started to make their presence felt. Analyst RayRay reported that two wallets picked up 358,279 HYPE, worth more than $18 million. He noted,
He added that smart money often positions early “before the crowd catches on.” Such moves from whales are being watched closely, as they can shift market direction when combined with technical strength.
In addition, data from DeFiLlama shows Hyperliquid’s total value locked (TVL) has reached $721 million as of August 27. That’s the highest level recorded this year.
Interestingly, TVL began the year under $200 million, peaked above $600 million in February, and then fell to near $300 million during the spring pullback.
Source: DeFiLlamaSince May, inflows have returned steadily, with August pushing the protocol to new highs. Rising TVL alongside price points to renewed participation and growing capital committed to the ecosystem.
The post HYPE Pumps 21% This Week: Can It Smash Through $55? appeared first on CryptoPotato.
Source: https://cryptopotato.com/hype-pumps-21-this-week-can-it-smash-through-55/
