Hyperliquid price Holds at $45, Supported by Strong On-Chain Data and rising Activity
Hyperliquid’s price (HYPE) is stabilizing near $45, backed by robust on-chain data and increasing user engagement. This level is significant as it aligns wiht key technical indicators.
The $45 zone is a crucial support area. It matches the point of control, the 0.618 Fibonacci retracement, and the lower Bollinger Band. These factors frequently enough signal a strong buying zone, potentially leading to a price reversal.
On-chain metrics show promising growth. The number of new users and daily trades is on the rise. This indicates expanding network usage and higher liquidity. Such trends usually precede bullish reversals.
Hyperliquid recently launched its USDH stablecoin. This move boosts confidence in its ecosystem and could enhance liquidity and network activity.
from a technical perspective,the $45 support zone is highly significant. The alignment of key indicators suggests this is a controlled pullback within an ongoing uptrend. If price holds here and forms a higher low, it could signal a continuation of the bullish trend.
volume data supports this potential reversal. Recent sessions show strong bullish inflows, indicating active demand at lower price levels. Sustained buying pressure is crucial for validating the recovery.
If Hyperliquid maintains support around $45, a move toward $53 becomes more likely. A breakout above $53 would open the door for further price gains.
Price action at $45 and confirms a higher low, a move toward the $53 resistance level becomes increasingly likely. A breakout above $53 would open the door for further price discovery, driven by strengthening on-chain fundamentals and sustained trading volume.
