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Hyperliquid price eyes $35 as Bollinger Bands tighten

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Hyperliquid price outlook: Bulls eye $35 as Bollinger Bands tighten  - 1

Hyperliquid price is approaching a key resistance level, and shrinking volatility suggests a possible breakout toward $35.

Summary

  • HYPE trades near $31 after slipping 5.7% in 24 hours but remains up 80% over the past year.
  • Bollinger Bands are tightening, signaling a volatility squeeze that often precedes a major move.
  • A breakout above $34 could push price toward $35, while losing $29 may expose the $26 support zone.

At press time, Hyperliquid (HYPE) was trading at $31.24, down 5.7% in the past 24 hours. Over the last week, it moved between $26.22 and $33.33, ending roughly 7% higher. However, the token has decreased by roughly 10% per month.

HYPE continues to be one of the better-performing altcoins despite the recent decline. Over the past year, the token has increased by about 80%, despite difficulties in the larger cryptocurrency market.

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Derivatives activity has cooled slightly. CoinGlass data shows that trading volume dropped 18% to about $1.25 billion, while open interest fell 7.5% to $1.21 billion, showing some traders closing their positions.

HYPE token fundamentals

HYPE’s price is influenced by several structural factors.  The core of Hyperliquid’s ecosystem is perpetual futures trading, and the Assistance Fund for token buybacks receives about 97% of platform fees.

Increases in trading are directly correlated with increases in buybacks. For example, when trading volumes averaged $29 billion daily, $5.82 million in buybacks were generated, demonstrating a direct correlation between trading demand and token support.

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Market sentiment has also been influenced by protocol upgrades. Permissionless perpetual markets were introduced by HIP-3, which produced a total volume of about $83 billion. 

HIP-4 proposal aims to launch outcome trading products, combining prediction markets, options, and binary-style contracts. These additions could expand platform activity if more retail or institutional traders participate.

Hyperliquid price technical analysis

HYPE appears to be entering a compressed volatility phase. Bollinger Bands have tightened on the daily chart, which is frequently an indication of an impending big move.

The upper band, which has caused pullbacks in recent sessions, is being tested by the price.

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Hyperliquid price outlook: Bulls eye $35 as Bollinger Bands tighten  - 1
Hyperliquid daily chart. Credit: crypto.news

The structure of the market has improved. HYPE has formed a string of higher lows around $26 and $29 since late January, indicating that buyers are intervening earlier on dips. This outlook is also supported by momentum indicators. 

There is potential for more gains as the relative strength index is in the mid-50s and trending upward. Meanwhile, the mid-Bollinger Band has been offering dynamic support around $29.

A move toward $35 could ensue if HYPE breaks above $33–$34, with a possible extension to $38 if buying pressure increases. Deeper losses could retest the $26 base, and rejection at resistance could push the token back toward $29 on the downside.

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Crypto World

Hacker Steals $2.7M From Solv’s Bitcoin Yield Platform

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Hacker Steals $2.7M From Solv’s Bitcoin Yield Platform

Crypto security researchers say the hacker exploited a bug allowing them to mint tokens, before swapping the freely-gained tokens for another tied to Bitcoin.

Bitcoin-based decentralized finance platform Solv Protocol says one of its token vaults was exploited for $2.7 million and has offered the attacker a 10% bounty in exchange for returning the stolen funds.

Solv said in an X post on Thursday that less than 10 of its users were impacted, but it would cover the loss of 38.05 Solv Protocol BTC (SolvBTC), a token pegged to Bitcoin (BTC).

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The project added that it had implemented measures to prevent the same attack from recurring and was investigating the exploit with crypto security firms Hypernative Labs, SlowMist and CertiK.

Source: Solv Protocol

Solv allows users to deposit Bitcoin for Solv Protocol BTC, which they can then use to lend, borrow or stake on other blockchains. The project has 24,226 Bitcoin worth over $1.7 billion and claims it is the largest on-chain Bitcoin reserve.

Solv hasn’t confirmed how the exploit happened, but two crypto security researchers attributed it to a vulnerability in one of Solv’s smart contracts that allowed the hacker to excessively mint a token used on the protocol.

Related: Mt. Gox’s former CEO floats hard fork to recover 80K hacked Bitcoin

The hacker exploited this vulnerability 22 times before swapping hundreds of millions of the tokens for a little over 38 SolvBTC, CD Security co-founder Chris Dior said.

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